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 and Next.
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EY reports €393m revenues in Republic of Ireland for 2021 financial year
Revenues in the Republic increased 9.5 per cent for the year up to June 2021 to €393 million, up from €359 million in the previous year