ABF shares plunge as Primark Europe slump triggers profit warning — what investors watch next
Associated British Foods shares dropped as much as 11.7% after the Primark owner cut its annual profit outlook, citing weak clothing demand in continental Europe and softer U.S. food sales. The company now expects adjusted operating profit and earnings per share below last year, reversing earlier growth forecasts. Primark’s like-for-like sales in continental Europe fell 5.7%. Final segment revenue will be published Jan. 22.
