The owner of Primark says it expects to lose £1.1bn in sales during the first half of its financial year through the coronavirus crisis-enforced closure of its stores.
Associated British Foods, which has steadfastly refused to trade the discount fashion chain online, told investors that group sales and adjusted operating profits would be lower than last year during the six months to 27 February.
The company said that restrictions aimed at controlling the spread of COVID-19 across the UK and Europe during the period had “materially” impacted Primark’s performance.
But ABF added that its other main interests, including sugar and ingredients, were all expected to deliver sales and profits above expectations to mitigate some of the loss.
This article was originally published by Sky.com. Read the original article here.