AB Foods sees a sales surge July 8, 2010 PRIMARK owner Associated British Foods gave an upbeat update yesterday saying its third quarter sales jumped 13 per cent and that it expected very strong growth in annual earnings, driven by its fashion discount retailer. Its 198-strong Primark chain reported sales in its spring quarter rose 15 per cent, outperforming many of its rivals and [...]
Primark July 8, 2010 RECEIVED wisdom tells us that shoppers flock to quality in times of hardship. With less cash to spend, punters buy fewer items that are more likely to last. Primark’s performance would suggest otherwise. Sales in the last sixteen weeks have climbed nine per cent at constant currencies, and Shore Capital estimates like-for-likes are up seven [...]
Primark fuels sales rise at ABF July 8, 2010 PRIMARK owner Associated British Foods said third quarter sales rose 13 per cent and expected very strong growth in annual earnings, driven by its fashion discount retailer. The London-based food and retail group, giving a third quarter trading update for the 16 weeks to June 19, also said group revenue for the year so far, [...]
THE TIPSTER July 7, 2010 GOLD has sold off sharply although rather than the usual risk appetite explanation, fingers are pointing towards central banks offloading the asset to the Bank of International Settlements. However, with the risk a double-dip still looming, there’s no shortage of reasons why the foray below $1,200/ per oz will be short lived. The current IG [...]
New Look profit rises – but silence on IPO June 2, 2010 BUDGET fashion retailer New Look posted a 17.7 per cent rise in annual profit but has remained silent about its ambitions for a stock market return after postponing its flotation in February. The chain, which blamed volatile financial markets for derailing an expected £1.7-£2bn listing, said higher taxes and unemployment, and a weaker pound, would [...]
Primark and recovery boost AB Food outlook April 20, 2010 PRIMARK owner Associated British Foods said the global recovery was underway, prompting it to predict a “very good” rise in annual earnings after beating forecasts with half-year profits up 20 per cent. The London-based food and retail group reported strong momentum in many of its businesses around the world and even Britain showed signs of [...]
Primark profits rise by 18pc April 20, 2010 PRIMARK profits have rocketed by 18 per cent to £144m in the past six months, owner Associated British Foods (ABF) has said. Revenues rose 19 per cent to £1.26bn, with like-for-like sales – which do not include figures from new stores – going up by eight per cent. The chain, which has 196 European stores, [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 14, 2010 FINANCIAL TIMES BP TO PRESS ON WITH CANADA OIL SANDS PLAN BP will press ahead with its plan to invest in Canada’s controversial oil sands, the company will signal at Thursday’s annual general meeting, in spite of protests from environmentalists and concerns among some shareholders. More than 140 investors have backed a resolution calling for [...]
Fashion week is far from pointless February 25, 2010 ANOTHER fashion week has finished and London has gone back to its (slightly) less glamorous self. The international circus of celebrity will return to wherever it came from for the six-month hiatus before the next round, and Somerset House will once again be a genteel government office complex and art gallery. Every time fashion week [...]
Strong sales at Primark boost profits for AB Food February 22, 2010 STRONG sales at cut price clothing retailer Primark have helped fuel a “substantial rise in profits” for parent company Associated British Food. The London-based group yesterday said in a trading update it expected a jump in half-year earnings and a strong full year. Its 196-strong discount chain Primark saw an eight per cent rise in [...]