Shares in Britain’s Associated British Foods have surged by 7% this morning after it reported encouraging sales at its Primark division.
ABF told the City that Primark stores have reopened more quickly than expected, particularly in Ireland. And while it has lost several months trading in the lockdown, demand has been strong in recent days.
ABF said, “Sales in the week ended 20 June, with over 90% of our selling space reopened, were £133m and trading in England and Ireland were ahead of the same week last year.”
Shoppers have been particularly keen to buy children’s clothes, leisure and night wear, along with summer products such as shorts and t-shirts.