Value clothes chain Primark "remained robust", analysts said, as it held sales flat in the last quarter in the wake of a consumer slump, but shares in Sports Direct plummeted after it revealed profits had halved.

Value clothes chain Primark "remained robust", analysts said, as it held sales flat in the last quarter in the wake of a consumer slump, but shares in Sports Direct plummeted after it revealed profits had halved.

Primark owner Associated British Foods, whose brands include Sunblest bread and Silver Spoon sugar, reported that like-for-like sales growth in the clothes stores in the 16 weeks to June 21 was held back by poor weather in April and the early timing of Easter, remarks that analysts took to mean 0% growth.

Primark recorded total sales 14% ahead of 2007 thanks to the opening of more stores. It now has 179 shops in the UK with 5.2 million sq ft of selling space and is planning to expand its eight-outlet chain in Spain by another two this year and add one in the UK.

Analyst Greg Lawless of Blue Oar Securities said: "0% like-for-like is probably quite good at the moment."

He said that Primark appeared to be doing better than more up-market high street outlets such as Next and Marks & Spencer.

He added: "We know it is pretty tough out there and if Primark is halting then so too are other people. I think consumers are choosing not to spend in their clothing stores at the moment because they are feeling the pinch."

He added that there are signs that internet-based companies such as women's clothing retailer Asos are prospering as people choose to do their shopping online so they are less tempted to buy extra items as they browse a store.

Overall, Europe's fifth-biggest food retailer reported 24% sales growth in the third quarter of its financial year, despite coming under pressure from lacklustre consumer spending and rises in raw material and energy prices.

On the grocery side of the business, sales rose by 30%, driven by price increases to recover input costs. It saw particularly strong growth in sales volume for Twinings tea and Ovaltine and world food brands such as Blue Dragon and the Patak's Indian-style foods business it acquired last year.

ABF also saw a 21% increase in sugar sales, although profits were hit by the reduction of EU quotas. Its agricultural business, which includes grain trading and UK animal feeds, continued this strong performance.

Analysts at Panmure Gordon wrote in a note: "While ABF is not immune to the economic environment, its business is resilient and we continue to expect it to deliver against market expectations this year."

ABF shares dipped 3.8%, or 29.5p, to 738.5p.

Back on the high street, shares in Sports Direct, which runs the Sports World and Lillywhites stores and owns the Slazenger, Lonsdale and Dunlop brands, saw its shares falling 11.5% to 63.5p.

The firm, which is still 70% owned by founder Mike Ashley, said its underlying annual profit has halved to £85m in its first year as a public company.

Ashley, who also owns Newcastle United football club, made £929m when Sports Direct floated at 300p a share in February 2007 but was criticised when its price then plummeted following a series of profit warnings.

He said yesterday: "A year ago, we probably had our eye off the ball with becoming a Plc to be totally honest."

But Ashley, the company's executive deputy chairman, said the firm had also been hit by a downturn in consumer spending, the wettest summer on record and poor shirt sales after domestic football teams failed to qualify for the 2008 European championships.

"Retailing on the high street is the worst for the 25 years we have been doing it," Ashley added.

Lawless said the firm's fortunes rested on domestic football teams qualifying for the World Cup in South Africa.

"Until we know whether the home countries have qualified for the 2010 World Cup I would avoid it."