StockMarketWire.com - Primark-owner Associated British Foods warned of a £375m loss on Primark sales on temporary store closures following new lockdowns implemented across Europe and a proposed lockdown in England.

Primark stores in the Republic of Ireland, France, Belgium, Wales, Catalonia in Spain and Slovenia were temporarily closed, which represented 19% of our total retail selling space.

While 57% of its total selling space would be temporarily closed from 5 November after the UK government proposed a month-long lockdown that would see all non-essential shops in England shutter from 5 November to 2 December.

'Trading hours are also restricted in a number of other markets. Uncertainty about further temporary store closures in the short-term remains,' the company said.

'We are implementing the operational plans developed to manage the consequences of these closures and appropriate action will be taken to reduce operating costs,' it added.







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