0839 GMT - Excitement around AB Foods' demerger of Primark will stay subdued until its like-for-like sales improve, Deutsche Bank Analyst Adam Cochrane writes in a note. He says that there is the risk of further like-for-like weakness at multinational retailer Primark with potential gross margin pressure. There is gross margin pressure on the retail business because inflation is not fully passed through to the consumer, he adds. Meanwhile, London-listed AB Foods' European sugar business is becoming an unattractive proposition, he adds. Shares are down 0.2% at 1,831.50 pence. (aimee.look@wsj.com)

(END) Dow Jones Newswires

May 26, 2026 04:39 ET (08:39 GMT)

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