Penneys and Primark owner Associated British Foods today said retail trading so far this year had been good, particularly in light of the economic climate.

THE owner of the discount fashion chain, Primark, which owns Penneys in Ireland, said it was having to discount more than expected as it battles the harsh consumer climate.

The owner of the discount fashion chain Penneys today said it was having to discount more than expected as it battles the harsh consumer climate.

Primark owner Associated British Foods today predicted a first half profits jump and said growth should continue throughout the year.