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Primark-owner AB Foods ups sales loss from COVID closures to 650 million stg

FILE PHOTO: Signage is displayed outside a Primark store at the Oxford Street, in London, Britain July 2, 2020. REUTERS/Hannah McKay

LONDON (Reuters) - Primark-owner AB Foods said tougher lockdown measures in Britain and Ireland would result in an estimated sales loss of 650 million pounds ($887 million) this financial year, up from its previous estimate of 430 million pounds.

It said on Thursday that as of 1 January, 253 Primark stores would be temporarily closed, representing 64% of its total retail selling space.

($1 = 0.7324 pounds)

Reporting by Paul Sandle, editing by Estelle Shirbon

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