The owner of Penneys has warned that it could see supply shortages on some lines later this year due to the coronavirus.

Associated British Foods said in a trading update on Monday: "The effect on supply chains for businesses dependent on Chinese sourcing continues to evolve.

"A number of our food businesses have operations in China."

"Primark sources a broad assortment of its product from China.

"We typically build inventories in advance of Chinese New Year and, as a consequence, are well stocked with cover for several months and do not expect any short-term impact.

"We are working closely with our suppliers in China to assess the impact on their factories and supply chains and their ability to fulfil our current orders."

File photo of a branch of Primark on Oxford Street in London, England

But it added: "If delays to factory production are prolonged, the risk of supply shortages on some lines later this financial year increases.

"We are assessing mitigating strategies, including a step up in production from existing suppliers in other regions."

Primark, which trades as Penneys in Ireland, also operates in the UK, Spain, Portugal, Germany, the Netherlands, Belgium, Austria, France, Italy, Slovenia and the US.

Its headquarters is based in Dublin city centre.

The company, which opened its first store on Mary Street in Dublin back in 1969, marked its 50th anniversary last year.

The firm has 372 stores in 12 countries and opened its first UK shop back in 1973.

It then began expanding into Europe in 2006 - opening in Spain, followed by the Netherlands, Portugal, Germany, Belgium, Austria, France, the US and Italy.