Retailers Face Profit Warnings Amid Sliding Fashion Sales

Associated British Foods warned of lower future earnings as Primark and Marks & Spencer struggle with declining consumer confidence and the cost-of-living crisis.While Marks & Spencer saw fashion sales drop 2.5 percent, Tesco previously reported a 4.4 percent rise in its clothing brand following a successful online launch.The broader retail environment remains volatile with Primark seeing significant markdowns across Europe and the United States despite some growth in its home market.