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Primark owner Associated British Foods reported a rise in revenue underpinned by growth in its food and retail businesses despite the impact of cost pressures and omicron.
For the 16 weeks ended 8 January 2022, revenue rose 16% year-on-year
Its grocery, sugar, agriculture and ingredients revenues in aggregate were 6% ahead of last year at constant currency, while retail sales were up 36% ahead of last year.
Total Primark sales in the period were 5% lower than pre-COVID levels in the same period two years ago, owing to the impact omicron. Like-for-like sales were 11% below.
Looking ahead, the company said it expects 'Primark sales from now to April to be significantly better than sales in the comparable period in the last financial year, when the estate was largely closed.'