By Matteo Castia
Associated British Foods PLC said Monday that it is reopening most stores of its clothing business Primark this month as coronavirus-related lockdowns ease.
The British conglomerate said it expects to have reopened 74% of Primark stores by June 15.
To date, 30% of Primark stores have been already reopened, with encouraging early trading indicators, the company said,
"Consumer demand has been strong for children's, leisure and night wear, along with summer products such as shorts and t-shirts, reflecting good weather in markets where we are trading," AB Foods said.
AB Foods also said weak trading in its sugar division offset above-expectations operating profit from the grocery sector, resulting in an operating profit for the food business as a whole in line with previous guidance.