Analysts at Panmure Liberum downgraded their rating for Primark-owner Associated British Foods from ‘Buy’ to ‘Hold’ after Primark underperformed over the festive quarter. Panmure downgraded its target price for ABF to 1900p from 2800p.

Morgan Stanley and Citi both lowered their ratings on ABF this week due to concerns over Primark's sales outlook

Even the country's cut-price clothing stores are feeling the pinch, as the Associated British Foods' share price weakness shows. The post The Associated British Foods (ABF) share price dips after guidance cut.

Primark owner Associated British Foods has revealed a slump in sales in the UK in recent months amid continued pressure on household budgets

The conglomerate lowered its sales-growth expectations for Primark —its clothing retailer that accounts for the lion’s share of earnings—amid a challenging retail environment.

Associated British Foods expects analysts' consensus profit expectations for its 2024/25 year to fall about 2% after the group cut the sales outlook for its Primark clothing business, its finance chief said on Thursday.