Profit at UK fast fashion chain Primark to drop by two thirds, owner says

LONDON: Trading in the reopened stores of the British fast fashion chain Primark has been encouraging but the prolonged lockdown means the retailer's full-year profit is likely to slump by about two thirds, owner Associated British Foods said.

All Primark stores were shuttered in March as the pandemic spread. As governments eased lockdown restrictions the stores reopened, including all 153 stores in England on June 15.