Boardroom Briefing

Shares in Associated British Foods fell as Primark struggled this year

Primark’s summer sales blip hits ABF shares

Shares in Associated British Foods fell as sales at the company’s budget fashion chain Primark, owner of Penneys in Ireland, dropped over the summer.

Primark’s same-store sales declined by about 2 per cent in the fourth quarter, chief financial officer John Bason said.

British fashion sales have declined for seven straight months due to unseasonable weather, hurting results at Primark along with rivals Marks & Spencer ...