ABF-owned Primark could benefit from a post-Brexit future despite “some short-term uncertainties including a decline in the value of sterling”.

In the year to September 17th, the fast fashion retailer saw a 2% fall in like-for-like sales in the UK, its first decline for 16 years.

In a statement, chief executive of ABF George Weston said: “The referendum on the UK's continued membership of the EU has created some short-term uncertainties including a decline in the value of sterling.
“The reaction of UK clothing retailers to this major movement in exchange rates is currently uncertain but Primark is committed to leading the value sector of the market with its on-trend product offering and maintenance of its price leadership position in clothing.”