Associated British Foods stock tracks a 3% Primark decline

Published on 09/24/2026 at 17:49 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Associated British Foods stock stood at GBp 1,832 on September 24, 2026, 22.34 percent below its yearly high. Sugar losses are expected toward the upper end of a GBP 25 million to GBP 60 million range.

Lebensmittelfabrik mit Getreidefeldern, Symbolbild Associated British Foods plc GB0006731235 — Associated British Foods plc GB0006731235 zeigt fotorealistisch eine moderne Lebensmittelfabrik mit Verpackungslinie und Getreidefeldern, Illustration mit AI erstellt.

Associated British Foods (ISIN GB0006731235) was trading at GBp 1,832 on the London Stock Exchange on September 24, 2026 at 4:29 p.m. London time, up 0.22 percent from GBp 1,828. The stock tracks a 3.0 percent estimated Primark like-for-like sales decline in the fourth quarter of fiscal 2026.

Primark growth hides weaker demand

According to Associated British Foods in its September 10, 2026 trading update, Primark total sales are estimated to rise 2% in the fourth quarter and 2% for fiscal 2026.

The comparison is less comfortable underneath: like-for-like sales are estimated to fall 3.0% in the fourth quarter and 2.6% for the full year. New stores and the franchise model are estimated to contribute 5% to growth, making expansion rather than existing-store demand the central support.

Regional figures sharpen the split. Primark like-for-like sales are estimated to rise 0.4% in the United Kingdom and Ireland but fall 4.3% in continental Europe, while the United States is expected to deliver 11% growth in the fourth quarter.

Digital retail meets sugar losses

Primark will introduce home delivery in Great Britain and has acquired a highly automated Sheffield fulfillment facility for GBP 90 million, Reuters reported on September 10, 2026. The move adds a new sales channel while the physical retail base continues to expand.

The offset is the Sugar division. ABF expects its fiscal 2026 adjusted operating loss to land toward the upper end of a GBP 25 million to GBP 60 million range, while the initial fiscal 2027 outlook places the loss at GBP 70 million to GBP 170 million.

That contrast matters for valuation: Primark offers a measurable growth route, but Sugar creates a widening earnings drag. ABF is scheduled to announce results for the 52 weeks ended September 12, 2026 on November 3, 2026.

Stock remains below yearly high

At GBp 1,832 on September 24, 2026, the share price stood 22.34 percent below its 52-week high of GBp 2,359 and 5.93 percent above its low of GBp 1,729.45. Market capitalization was GBP 12,818,565,738 on the same date.

Analyst caution is visible in the latest target changes. MarketBeat reported on September 23, 2026 that Citigroup cut its target from GBp 1,550 to GBp 1,520 and that the consensus rating was Reduce.