Primark warns of ‘challenging’ November


Shares in Associated British Foods fell 3.3 per cent today after it warned that Primark sales were ‘challenging’ in November.

Finance director John Bason told media that Primark’s like-for-like sales were “just positive” in September and October but were negative in November. He declined to give precise numbers.

“This isn’t a call on Christmas – we’ve got three big weekends coming up now before Christmas. But I think it is a call on quite mild weather during November and I think it’s affected footfall,” said Bason, adding: “It’s a blip that from a profit perspective we can manage.”

Primark added that it still expects an increase in profits this year.