Primark loses £800m in Covid-19 lockdowns

Retailer expects profits to dive by two-thirds as revenue falls 75% in three monthsCoronavirus – latest updatesSee all our coronavirus coverageCoronavirus lockdowns have cost Primark £800m, with the clothing retailer expecting profits to tumble by two-thirds this financial year. Revenues fell by 75% between 1 March to 20 June, to £582m, Primark’s owner, the FTSE 100 conglomerate Associated British Foods (ABF), reported on Thursday. Continue reading...