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PRIMARK TEPID COMPS AND A HIT TO MARGINS AT PRIMARK

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Executive Summary

  • Primark sales were up 13% at constant exchange rates and up 8% in British pounds.
  • Spain, Portugal and Ireland performed “very well,” and UK comps were positive.
  • Operating profit was up 5% at constant foreign-exchange rates and up 2% in British pounds.
  • Operating margin was down 79 basis points, to 12.6%.
  • Parent company Associated British Foods is a conglomerate and does not report further measures of profitability at the level of its Primark segment.

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