Eoin Tonge—who has served as interim Primark CEO since last year—takes the reins at a time when the retailer faces sluggish sales.
Britain's Primark named interim CEO Eoin Tonge as its permanent boss on Thursday, even as parent Associated British Foods explores a separation of the fashion chain.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
PINE, BOH and ASBFY made it to the Zacks Rank #1 (Strong Buy) income stocks list on February 26, 2026.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Primark sales rose 1% for the first quarter quarter ending Jan. 3, compared with a year earlier, dropping 2.7% on a constant-currency basis.
Associated British Foods , which warned on profit earlier this month, confirmed on Thursday that underlying sales at its Primark clothing business fell 2.7 % in the Christmas quarter.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Associated British Foods plc (ASBFY) Q1 2026 Sales/Trading Call Transcript
Primark's stronger performance in the U.K. was partly offset by weaker sales in continental Europe.
Associated British Foods operates as a conglomerate, but this obscures the strength of Primark, its clothing retail division, responsible for 65% of group profit. Management are now seriously considering a spin-off of Primark, which seems very likely to unlock value for shareholders. Primark has a strong competitive position, significant scale ($12.8 billion in revenue) and is rapidly expanding into the United States.