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Primark owner sales dip predicted

Primark parent Associated British Foods (ABF) is expected to report a decline in sales this week (18 January), but analysts believe the clothing retailer has experienced sales growth in the UK.

Analysts at Credit Suisse forecast that ABF will announce a 1% decrease in like-for-like sales for its first quarter, but said sales in the UK will be positive, City AM reported today.

Additionally, Credit Suisse predicted ABF will enjoy a 9% boost in sales on a constant-currency basis.

This figure was buoyed by Primark’s five store launches and two shop relocations during its latest financial year, bringing total floorspace to 14.2m sq ft, as reported at its December annual general meeting.

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