Primark pledges no more price rises as costs soaron November 8, 2022 at 8:57 am

The owner of Primark has warned consumers face tough choices on “what they spend and where they spend it” as it reported a big rise in sales.

Associated British Foods (ABF) said high inflation, rising interest rates and “general economic uncertainty” were making consumers cut back.

Sales at Primark rose to £7.7bn in the 12 months to September, up 43% on a year ago.

But ABF warned that group profits could fall this year.

“The full consequences of the current cost-of-living crisis remains uncertain,” it said in a statement.