{"id":284289,"date":"2011-02-28T09:15:15","date_gmt":"2011-02-28T09:15:15","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/02\/28\/primark-warns-of-slowdown-in-uk\/"},"modified":"2011-02-28T09:15:15","modified_gmt":"2011-02-28T09:15:15","slug":"primark-warns-of-slowdown-in-uk","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/02\/28\/primark-warns-of-slowdown-in-uk\/","title":{"rendered":"Primark warns of slowdown in UK"},"content":{"rendered":"<p><div readability=\"60.1948051948\">\n        \t\t  <span><br \/>\n    <span>28 February 2011<\/span><br \/>\n<span>Last updated at <\/span><span>04:15 ET<\/span><br \/>\n<\/span><\/p>\n<p>Retailer Primark saw strong trade in the first three months of the financial year, despite adverse weather during the Christmas period. <\/p>\n<p>However, owner Associated British Foods said Primark had seen &#8220;a noticeable slowing down of UK consumer demand&#8221;.<\/p>\n<p>ABF said in a trading update that Primark&#8217;s revenue would still be 11% ahead of last year, despite a rise in VAT and higher cotton prices.<\/p>\n<p>ABF said that Primark&#8217;s like-for-like sales would be 3% ahead of last year.<\/p>\n<p>ABF, which also owns brands such as Ovaltine, Ryvita and Twinings, is due to post its interim profit figures in April.<\/p>\n<p>The company said that all of its businesses would still show that they were &#8220;delivering good revenue growth&#8221;.<\/p>\n<p>Primark operates 214 stores mostly in the UK, although it also trades in the Republic of Ireland, Spain, Germany, Portugal, the Netherlands and Belgium.<\/p>\n<p>ABF shares were down 3.8% in morning trading.<\/p>\n<\/p><\/div>\n<\/p>\n<p>See more here:<br \/>\n<a target=\"_blank\" href=\"http:\/\/www.bbc.co.uk\/go\/rss\/int\/news\/-\/news\/business-12594630\" title=\"Primark warns of slowdown in UK\" rel=\"noopener noreferrer\">Primark warns of slowdown in UK<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> 28 February 2011 Last updated at 04:15 ET Retailer Primark saw strong trade in the first three months of the financial year, despite adverse weather during the Christmas period. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-284289","post","type-post","status-publish","format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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