The retailer's owner Associated British Foods said Primark is targeting low single digit sales growth in 2025, with like-for-like sales in the UK and Ireland falling by 6%

The fashion chain’s like-for-like sales in the UK and Ireland — which account for almost half of the total — fell more sharply, dropping 6 per cent over the 16 weeks. Primark’s share of the total UK fashion market slipped to 6.8 per cent.

Associated British Foods downgraded the annual sales guidance for its Primark budget clothing business on Thursday after disappointing results in the Christmas quarter in its main UK and Ireland market.

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.

Primark's owner has slashed forecasts for the retailer's sales this year after a disappointing performance over the crucial Christmas trading period.