Poor weather adds to 'challenging' environment for Penneys and Primark

Parent company AB Foods plans to spin off the fashion business from its food businesses

The parent company of Penneys and Primark, Associated British Foods, said revenue at the clothing retailer increased 3% to £2.92bn for the quarter to June 20, but poor weather and the war in Iran added to a "challenging" retail environment. Picture: Denis Minihane.

The parent company of Penneys and Primark, Associated British Foods, said revenue at the clothing retailer increased 3% to £2.92bn for the quarter to June 20, but poor weather and the war in Iran added to a "challenging" retail environment. 

AB Foods said a strong start to Primark's spring/summer trading in March was followed by weaker trading in April and May, "largely due to the impact of the Middle East conflict on consumer sentiment and unseasonal weather. Improved weather in June contributed to stronger trading."