Primark owner AB Foods warns of lower annual profit

Core Viewpoint - Associated British Foods has issued a warning regarding lower annual profit due to weak demand at Primark in continental Europe and subdued demand in its food business in the U.S. [1] Group 1: Company Performance - The company anticipates a decline in annual profit, primarily driven by reduced consumer demand at its retail segment, Primark, particularly in continental Europe [1] - The food business is also experiencing subdued demand in the U.S., contributing to the overall profit warning [1] Group 2: Market Conditions - Weak demand in both the retail and food sectors indicates challenging market conditions for Associated British Foods [1] - The performance of Primark in continental Europe is a significant factor affecting the company's profitability outlook [1]