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Primark Parent Estimates Massive First-Half Loss

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’s store-only, no-web business model isn’t working out well for bottom-line results. On Thursday, parent company Associated British Foods (ABF) said the fashion chain’s first-half results will fare poorly amid coronavirus-lockdowns and store closures across the U.K. and European markets. For the first-half period ending on Feb. 27, ABF expects losses to reach roughly 1.1…

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