- Primark’s parent, Associated British Foods (ABF), reported its FY19 pre-close trading update on September 9. This report focuses on Primark, the company’s retail division.
- Primark FY19 comps were down 1% in the UK, down 3% in the eurozone and up (by an unspecified amount) in the US. Management expects to report a full-year increase in operating margin.
- Management expects to see a reduced margin in FY20, due to the strengthening of the dollar and the weakening of the pound.
Other research you may be interested in: