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Primark Goes Online While ABF Goes Down

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Core Development: Primark Goes Online While ABF Goes Down
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Primark finally decided that delivering clothes to people's homes might be worth trying, but investors had more immediate problems to worry about.

European fashion sales are still shrinking and ABF's sugar division could lose as much as £170 million (about $230 million) next year, leaving the new digital strategy buried beneath a much uglier earnings outlook.

Associated British Foods shares fell more than 9% after its latest trading update showed another weak quarter for Primark in continental Europe alongside a sharply deteriorating outlook for the group's sugar operations.

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