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Primark Under Pressure From Inflation and Weak Sterling
Primark started a click-and-collect trial for its website late last year.
Photographer: Anthony Devlin/BloombergThis article is for subscribers only.
Profit is under pressure at budget fashion chain Primark as the retailer struggles with a weaker pound and the effort to keep clothing cheap for cash-strapped shoppers.
Primark’s margin shrank to 8.3% in the first half from nearly 12% a year earlier, owner Associated British Foods Plc said Tuesday. AB Foods, a conglomerate which owns a range of businesses from grocery to agriculture, said full-year profit in its sugar business is also likely to decline as a result of much lower production in the UK.