July 4, 2019 / 6:22 AM / 3 months ago

AB Foods says Primark sales dented back by poor May weather

LONDON, July 4 (Reuters) - Fashion retailer Primark’s sales were dented by unseasonable weather in May, its owner Associated British Foods said on Thursday.

The group said Primark’s sales in the 40 weeks to June 22 were 4% ahead of last year on a constant currency basis, driven by increased selling space partially offset by a decline in like-for-like sales.

It said in the UK Primark’s total sales continued to grow in the third quarter and it recorded a further significant increase in market share.

However, like-for-like-for-like sales were held back by poor May weather which compared to a favourable market environment in the same period last year.

Sales at Primark stores in the Eurozone were similarly affected by the unseasonable weather in May.

The group said trading in June had improved in the UK and recovered strongly in the Eurozone.

It added that its overall outlook for the full year is unchanged.

Reporting by James Davey; editing by Costas Pitas

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