Primark's UK sales fall as owner explores spinning off fashion retailer

Primark's UK sales dip as owner mulls spinning off fashion chain as a separate entity. Associated British Foods (ABF) reported a 13% decline in profits for the year, signaling challenges in the retail market. Despite good weather, Primark's sales fell by 3.1%, impacted by weak consumer confidence and increased competition from budget-friendly brands like Shein and Temu. ABF is considering splitting Primark and its food brands amid ongoing uncertainties in the consumer environment and potential tax hikes ahead.