Primark owner Associated British Foods PLC (LSE:ABF) was one of the day’s weak spots as research group Kantar’s latest UK clothing survey suggested it fared worse than rivals in the run-up to Christmas.
Data from Kantar showed that overall retail sales in the four weeks to 8 December declined by 3.6% year-on-year, sequentially improving by 1.5 percentage points versus the previous four weeks.
US bank Citi suggested the numbers were consistent with BRC commentary that consumers had been delaying purchases of winter clothing this year, leading to weaker sales in Oct/Nov.
M&S, which releases its numbers on Thursday, bucked the trend with positive sales growth in the period.
Next sales were in decline but marginally better than the market though Primark UK was hit hardest with the data suggesting a 7% decline in the first twelve weeks of the year to September 2025, noted Citi.
Shares in AB Foods dropped 1.5% to 2,023p.