0752 GMT - AB Foods' spinoff of budget clothing retailer Primark comes at a tricky time, Aarin Chiekrie, equity analyst at Hargreaves Lansdown says in a note. European consumers are particularly concerned about wardrobe updates, though sales in the U.K. have held up relatively well, he adds. Growth has largely been driven by new store openings, Chiekrie says. The spinoff still makes sense given how different it is from the rest of the business, he adds. "We view it as a good way to sharpen management's focus and potentially unlock value in the respective businesses," he says. Shares are down 4.7% at 1,796.50 pence. (aimee.look@wsj.com)

(END) Dow Jones Newswires

April 21, 2026 03:52 ET (07:52 GMT)

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