Primark owner says customers face difficult choices as costs rise

The Primark owner has warned consumers are facing tough choices “about what to spend and where to spend it” as it reported a big jump in sales.

Associated British Foods (ABF) said high inflation, rising interest rates and “general economic uncertainty” prompted consumers to exercise restraint.

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

But ABF warned that group profit could fall this year.

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