Primark owner raises forecast but wants help for Oxford Street

PRIMARK shoppers are back in London and on Oxford Street in particular, but as a shopping destination it is far short of what it used to be.

- Simon English

So warns George Weston, chief executive of Associated British Foods, the parent group of Primark that also owns Silver Spoon sugar and Twinings tea.

ABF today raised its profit forecast for the second time in four month thanks to strong trading in clothes and food.

But like other fashion houses including Superdry, Weston thinks Oxford Street needs help.

"There is a lot of improvement possible. Our stores are trading well, certainly up to pre-pandemic levels. But the area has deteriorated." The loss of some big names has lessened the street. "Debenhams is a big loss, House of Frasers, Top Shop has gone. There hasn't been adequate replacements," he said.