Brief: Associated British Foods Expects Primark's Q4 LFL Sales Down 3%
BRIEF-Associated British Foods Expects Primark's Q4 LFL Sales Down 3% Sept 10 (Reuters) - Associated British Foods PLC ABF.L:
ASSOC.BRITISH FOODS - TRADING STATEMENT
AB FOODS: ACTIONS TO STRENGTHEN PRIMARK'S CUSTOMER PROPOSITION HAVE CONTINUED AT PACE
AB FOODS - PRIMARK TO OFFER HOME DELIVERY IN GREAT BRITAIN
AB FOODS: WHILE FACTORS CONTRIBUTE TO NEGATIVE OUTLOOK FOR SUGAR IN 2027, RECENT POSITIVE TURN IN EUROPEAN, GLOBAL SUGAR PRICING SHOULD BENEFIT FUTURE
AB FOODS: IN Q4, PRIMARK'S SALES EXPECTED TO GROW AROUND 2%; LIKE-FOR-LIKE SALES DOWN AROUND 3%.
AB FOODS: GROCERY SALES ARE EXPECTED TO GROW IN MID-SINGLE DIGITS IN Q4
AB FOODS: FOR 2026 FINANCIAL YEAR, GROCERY ADJUSTED OPERATING PROFIT IS EXPECTED TO BE SLIGHTLY BELOW OUR PREVIOUS EXPECTATIONS
AB FOODS: IN UK, PRIMARK'S SALES ARE EXPECTED TO GROW AROUND 1% IN Q4, WITH LIKE-FOR-LIKE SALES EXPECTED TO BE BROADLY FLAT.
AB FOODS: IN UK AND SPAIN, SUGAR SALES AND PROFITABILITY DECLINED IN Q4 DUE TO LOWER AVERAGE SELLING PRICES IN EUROPE
AB FOODS: IN CONTINENTAL EUROPE, WHERE CONSUMER CONFIDENCE REMAINS WEAK, SALES EXPECTED TO BE DOWN 1% IN Q4, WITH LFL SALES DOWN AROUND 4.3%
AB FOODS: IN THE US, SALES ARE EXPECTED TO GROW AROUND 11% IN Q4
AB FOODS: HAVE TAKEN DECISION TO FOCUS ON OUR HIGHER GROWTH SEGMENTS AND TO EXIT OUR UK COMPOUND FEED BUSINESS
AB FOODS: FOR 2026 FINANCIAL YEAR, PRIMARK'S SALES ARE EXPECTED TO GROW AROUND 2%, WITH LIKE-FOR-LIKE SALES DOWN AROUND 2.6%
AB FOODS: 2027 RETAIL ADJUSTED OPERATING MARGIN EXPECTED TO BE APPROXIMATELY 10%
AB FOODS: 2027 SUGAR ADJUSTED OPERATING LOSS EXPECTED TO BE IN RANGE OF £70M TO £170M
AB FOODS: 2027 GROCERY ADJUSTED OPERATING PROFIT EXPECTED TO BE SLIGHTLY AHEAD OF 2026
AB FOODS: FOR 2026, ADJUSTED EPS EXPECTED TO BE AHEAD OF EXPECTATIONS, GROUP ADJUSTED OPERATING PROFIT EXPECTED TO BE BROADLY IN LINE WITH OUR PREVIOUS EXPECTATIONS
Source text: ID:nRSJ1410Ua
Further company coverage: ABF.L
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