Associated British Foods expects analysts' consensus profit expectations for its 2024/25 year to fall about 2% after the group cut the sales outlook for its Primark clothing business, its finance chief said on Thursday.

Primark generates about 45% of its sales in the UK and Ireland. AB Foods is now targeting low-single digit sales growth for Primark in 2025, down from mid-single digits forecast i

The conglomerate lowered its sales-growth expectations for Primark —its clothing retailer that accounts for the lion’s share of earnings—amid a challenging retail environment.