Associated British Foods (ABF) has warned that sales for its Primark business are taking a major hit from the coronavirus outbreak. With developments in Italy, France, Spain and Austria, stores accounting for a fifth of Primark’s selling space are now closed until the respective governments allow them to open again. Those shops account for 30 per cent of Primark’s sales – and ABF had anticipated revenues of £190m from them over the next four weeks.
Join our community of smart investors
- Comprehensive companies coverage
- Actionable commentary, ideas and portfolios
- Tools and data to help you manage and track investments
- Help managing your portfolio