Sales Increased By 7% In September, But Will Be Affected By Primark.

Cheap Britain Clothes & Accessories Retailer Primark achieved 7% growth in the first 40 weeks of June 18th (the first nine months of the fiscal year). The brand's parent company Associated British Foods PLC (ABF.L) Ying Lian food group said that even if the United Kingdom off Europe will continue to focus on the expansion of Primark.

Because Associated British Foods PLC Ying Lian food group no longer expects the adjusted EPS will decline over the previous year, Associated British Foods PLC (ABF.L) surged up to 9.2% to 2795 pence in early.

Associated British Foods PLC Ying Lian Food Group expects that the depreciation of the pound to 31 year low will not affect the sales of Primark, but because the purchase is settled in US dollars. brand The profit margins of UK businesses will be hurt, but these negative effects will be offset by the profit margins of the sugar sector and overseas markets benefiting from the weaker pound.

During the three quarter of the Primark quarter, 11 new stores became the main driving force for sales growth, which is more pressing than sales because of "unpredictable weather conditions", especially in April. Before the end of fiscal year August, Associated British Foods PLC Ying Lian food group will increase the sales area of 300 thousand square feet for Primark, including two new stores in Philadelphia and New Jersey respectively, while Paris Creteil stores will double.

Associated British Foods PLC did not provide more meaningful sales data from the same store, but the growth rate in the first nine months was unchanged from 7% in the first half, while the same store sales in the first half of the year decreased less than 1%, which means that the same quarter sales continued to decline in the three quarter. Last month, Morgan Stanley (NYSE:MS) Morgan Stanley analyst Geoff Ruddell said that the brand's year-round same store sales will be the first decline in more than 15 years. He said it was not clear why Primark sales slowed down significantly, but it was certainly related to structural factors, including high street passenger flow reduction and purchase behavior. Electronic Commerce Transfer and so on. As the growth of Primark slowed down, Associated British Foods PLC union group increased its dependence on sugar industry gradually.

Also today, Marks & Spencer Group PLC (MKS.L) Marsha general store M&S said that the same store sales plunged 8.9% in the first quarter of July 2nd, the biggest decline in the past ten years. The sales of H&M Hennes & Mauritz AB AB (HMb.ST) increased by 5% in the two quarter of 3-5, compared with the local exchange rate, but after excluding the contribution of the new sales area, Credit Suisse Group AG VTX:CSGN (VTX:CSGN) Credit Suisse estimated that the group's same store sales fell 5.3%, the group management blamed 3, and the main European market in April was extremely cold and rainy, which inhibited spring demand.

For the unstable factors brought about by the UK's business environment and financial market, the business has been in 48 markets all over the world. Associated British Foods PLC, the British Union food group, points out that the group is financially strong and optimistic about its sustained growth.

Associated British Foods PLC (ABF.L) increased 8.77% to 2777 pence in midday, and has fallen by 16.9% since 2016.