**Summary**
Associated British Foods plc (ABF) released a trading update on January 8, 2026, highlighting mixed performance across its retail and food segments for the 16 weeks ending January 3, 2026.
**Key Points**
* **Primark (Retail)**
* **UK** Showed resilience with 3% sales growth (1.7% like-for-like) despite a challenging clothing market, gaining market share. Success attributed to initiatives improving customer value proposition.
* **Continental Europe** Struggled with a 5.7% like-for-like sales decline due to weak consumer confidence and delayed implementation of UK-style initiatives.
* **US** Volatile retail environment impacted performance.
* **Overall** Sales growth below expectations, leading to increased markdowns and lower profitability. Primark expects low single-digit sales growth in the first half of 2026, with potential impact on full-year operating profit margin.
* **Food Businesses**
* **Mixed performance** US market weakness, particularly in cooking oils and bakery ingredients, led to lower sales and a more cautious outlook.
* **Grocery and Ingredients** Expected to deliver adjusted operating profit moderately below last year.
* **Sugar and Agriculture** Guidance remains unchanged from November 2025.
* **Group Outlook**
* Group adjusted operating profit and adjusted EPS are expected to be below last year due to the performance of individual segments.
**Additional Notes**
* ABF will release final revenue figures for the period on January 22, 2026.
* An investor and analyst call was held on January 8, 2026.
* The announcement contains inside information as per Market Abuse Regulation.
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> ### Explanation:
- **Metrics**: The table includes key financial metrics such as sales growth, revenue growth, and adjusted operating profit margins/profits for different segments of Associated British Foods PLC.
- **Comparison**: Since the prior year (2025) figures are not explicitly provided in the text, the "Change" column is marked as "N/A".
- **Styling**: Basic CSS is applied to make the table more readable.
- **Debt**: As debt figures are not mentioned in the text, they are excluded from the table with a note at the bottom.