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Primark Parent Estimates Massive First-Half Loss

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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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