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Share Price Information for AB Foods (ABF)

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Share Price: 2,436.00
Bid: 2,436.00
Ask: 2,437.00
Change: 42.00 (1.75%)
Spread: 1.00 (0.041%)
Open: 2,416.00
High: 2,437.00
Low: 2,414.00
Prev. Close: 2,394.00
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AB Foods says COVID won't prompt Primark online rethink - CEO

Tue, 03rd Nov 2020 08:26

LONDON, Nov 3 (Reuters) - Primark-owner Associated British
Foods is not rethinking the lack of an online business
at the fashion retailer despite the COVID-19 crisis causing
prolonged store closures, its boss said on Tuesday.

"I think that COVID has more demonstrated the strength of
Primark than the weakness," Chief Executive George Weston told
Reuters.

He said Primark's trading was strong when stores reopened
after coronavirus lockdowns, while new stores were still being
well received in new markets.

"What we've seen with Primark is when people are able to
shop they prefer to shop with us than do so online," he said.

Weston also noted that over half of Primark's core customers
did not buy anything online during lockdown, preferring to wait
for stores to reopen.

"That is I think a very reassuring statistic," he said.

(Reporting by James Davey, Editing by Paul Sandle)

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