Penneys owner takes £430m hit from lockdown closures

To maximise sales and spread out customer numbers, some sites have continued trading through the night, while others have extended opening hours.

Primark has revealed the national lockdowns in the autumn hit sales by €474m Picture: Liam McBurney/PA Wire

Primark owner Associated British Foods (ABF) has revealed that the second national lockdown in England, along with regional lockdowns and restrictions, has hit sales to the tune of £430m (€474m)– higher than previously expected.

But the company said it has recovered some of the costs, with overheads falling 25% during the autumn lockdowns, and early signs that reopened stores are seeing strong sales.