Primark anticipates big coronavirus hit to sales

Associated British Foods plc has said, while for the first half, adjusted operating profit will be ahead of its previous expectations, mainly due to higher margins for Primark and Grocery and adjusted earnings per share will now be ahead of last year on both a lease-adjusted and a reported basis, with developments over the last week in Italy, France, Spain and Austria, stores accounting for 20 percent of Primark’s selling space are now closed until the respective governments permit them to re-open.