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Lockdown, Lack of E-Commerce Send Primark Losses Spiraling

COVID-19 recovery is on the horizon but the pandemic's impact on sustainability, retail, product development and consumer buying patterns means the denim industry must evolve. Join Rivet on April 20th at 11 am ET for the COVID, One Year Later roundtable.

Primark parent Associated British Foods plc on Thursday provided a loss estimate for the 16-week period including November and December, but said losses through the end of the fiscal half year will escalate as lockdowns shutter stores. ABF gauges the financial fallout at 540 million pounds ($736.1 million). With temporary stores closures expected to continue…

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