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ABF warns on Primark store closures

Grocery and ingredients businesses have not seen a material impact so far
ABF warns on Primark store closures

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.

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