London, Feb 16, 2026, 12:50 GMT — Regular session
- Associated British Foods dropped roughly 1.3% midway through the session.
- UK inflation numbers are set for release Feb. 18, with retail sales figures landing two days later on Feb. 20.
- Primark’s performance across Europe is shaping up as the main variable to watch before ABF’s April results.
Shares of Associated British Foods slipped 1.3% to 1,941 pence by 1250 GMT, underperforming the FTSE 100, which was ahead by 0.4%. The stock touched an intraday low of 1,936.8 pence as investors zeroed in on upcoming UK data and its potential impact on household spending.
Primark stands out as ABF’s main pitch to investors, its fortunes closely tied to how much confidence shoppers have in their incomes. Hopes for rate cuts have started to re-emerge in the UK market conversation, yet the outlook could flip quickly with the next round of inflation and consumer spending data.
U.S. markets were closed for Washington’s Birthday, so a few desks in Europe braced for quieter cross-asset moves as the week kicked off. In that environment, traders often turn their focus to local economic data and company headlines.
No new announcements out of ABF this Monday. Still, the January update lingers in the background. Back on Jan. 8, CEO George Weston called out a “challenging start” for Primark, and flagged that trading “remained weak” across continental Europe. ABF also warned that group adjusted operating profit and adjusted earnings per share are set to come in lower than last year—those adjusted numbers exclude certain one-off items. ABF Corporate
On Jan. 22, a new statement gave hard figures: Primark’s like-for-like sales dropped 2.7% over the 16 weeks ending Jan. 3. Total sales for Primark edged up 1%, but Europe weighed things down, even as the UK and Ireland saw stronger trading.
Primark’s outlook? Shoppers aren’t catching much of a break. S&P Global’s UK consumer sentiment index logged 44.8 in February—remaining under that key 50 threshold, which would indicate confidence picking up. Economist Maryam Baluch pointed to mounting debt concerns alongside more limited access to loans.
ABF shareholders have their eyes on the company’s U.S.-focused food ingredients and grocery divisions too, with management already highlighting softer demand in certain segments. If that cooling trend looks to be moving outside just the European retail space, the stock could stay under the gun.
The risk swings both directions here. Should inflation prove stubborn and the Bank of England finds itself unable to loosen policy, households could feel the pinch right through to spring. But if demand in Europe picks up, Primark could still deliver stronger volumes—even with the market staying soft.
Mark your calendars: UK January CPI lands at 0700 GMT on Feb. 18. Retail sales for the same month hit two days later, with a 0700 GMT release on Feb. 20.
ABF’s interim results hit on April 21, 0700 London time. Investors are set to scrutinize whether Primark’s issues in Europe are easing up or turning into a lasting headache.
