Blaming poor performance on the weather isn't a good look but there's no denying the impact of a soggy summer on sales at Primark.

In a trading update issued this morning Primark owner AB Foods said like-for-like sales are expected to have fallen by 0.9% in the fourth quarter, a period that also coincided with the outbreak of far-right anti-immigration riots across large parts of the UK. Amid the drizzle and despair, a new pair of sandals or sunglasses was hardly top of the priority list.

But summer rain is hardly a new phenomenon in the UK, and Primark will need to prove that it can adapt to the unpredictable.

With an online presence limited to the click and collect service that went UK-wide less than a year ago, Primark is more reliant than most on shopper footfall. When storms or protests hit passing trade, shoppers can order online from competitors such as Next or Marks & Spencer - Primark doesn't have that safety valve.

READ MORE: Primark drives strong sales at AB Foods as shoppers shrug off price hikes

The operation is at least benefiting from lower costs in some areas such as material prices, easing shipping costs and foreign exchange improvements, which is helping to increase profit margins. Other costs such as staff wage bills, IT spending and marketing outlays have gone up, but this is only partially offsetting savings elsewhere.

The chain is also being aided by its continuing expansion programme, which during the period included two new store openings, two store extensions and a further two store relocations.

The strength of AB Foods has traditionally been its diversified business model, which stood the group in good stead during the Covid lockdowns that shuttered the doors of "non-essential" retailers like Primark. This time around, however, the group is also facing pressure in its sugar business as falling prices in Europe will "significantly impact" that division's performance in the coming year. 

Elsewhere though, the ingredients and grocery units are picking up some of the slack and the overall message from management for the coming year is positive. On the whole, today's decline of more than 8% in AB Foods' share price feels a bit overdone.