Primark owner's shares drop as sales fall amid Trump tariff fears [Yahoo! Finance]
ASSOCIATED BRI/F UNSP/ADR (ASBFY)
NASDAQ:AMEX Investor Relations:
abf.co.uk/investorrelations
Company Research
Source: Yahoo! Finance
that consumer confidence was likely to worsen further amid Donald Trump's trade wars. Associated British Foods (ABF), which also owns a sugar business and food brands such as Ryvita and Kingsmill, said several countries could slide into recession as a result of US trade policy. “Sentiment is unlikely to improve as markets continue to face uncertainty and instability following recent tariff announcements by the US, retaliatory actions by China and the risk of further tariff trade wars,” ABF said. “Consumer confidence could deteriorate further as a number of countries, including the US, face the risk of recession that could increase individuals' debt problems.” The warning came as Primark posted a 6% decline in comparable sales in the UK and Ireland in the 24 weeks to 1 March, despite strong sales growth over the Christmas period. Its share price fell by more than 9% in early trading, and were later down by 6.5%. Last month, Primark's longstanding boss Paul Marchant resigned aft
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