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.