Coming to America: Primark signs deal for a further seven stores in the US October 20, 2014 Primark is to open a further seven stores in the US, including its first in New York, through a lease deal with Sears Holdings revealed today. The value retailer is taking on around 520,000 gross square feet of retail space in mall-based stores in the north east of the US. Primark will take on [...]
Even Primark sales aren’t sweet enough to save Associated British Foods from a 4pc share price slump September 8, 2014 Associated British Foods (ABF) went on the offensive in a trading update this morning, saying it expects strong Primark sales to contribute to an increase in adjusted earnings per share for the year ending September 13 – but that wasn't enough to stop shares falling 4.4 per cent in early trading as investors worried about [...]
Warm weather boosts Primark as it buys Pavilions shopping mall July 10, 2014 Associated British Food (ABF) said yesterday that Primark’s acquisition of Pavilions shopping centre in Birmingham to house a four-floor store was “an exception to the rule” as it posted a fresh set of soaring sales. Finance director John Bason said the deal would pave the way for a 150,000 square feet store in around two [...]
Associated British Foods adjusts earnings guidance as Primark profits rise July 10, 2014 Associated British Foods (ABF) has raised its annual earnings guidance after a 22 per cent rise in sales from its budget fashion brand Primark offset the continued weakness of the sugar market. ABF now said it expected its adjusted earnings per share to be above the 98.9 pence paid in 2012-13. Previous guidance had indicated [...]
Tobacco customers are more Primark than Prada May 28, 2014 Companies flogging anything from ice cream to eye shadow tend to invest more in marketing their premium consumer brands, as they make higher returns. But when it comes to tobacco, customers are more attracted by value than brand, according to RBC Capital Markets research. At FTSE 100-listed tobacco giants British American Tobacco and Imperial [...]
Primark set to launch its first stores in the US April 23, 2014 ASSOCIATED British Foods (ABF) is taking Primark to the US, the FTSE 100 conglomerate announced yesterday, as it reported a 26 per cent leap in the budget clothing chain’s profits. Primark is set to open a 70,000 square foot store in Boston in 2015 and it is also in talks to open a further eight [...]
Primark buoys AB Foods as sugar continues to sour performance April 23, 2014 Shares in Primark owner Associated British Foods are up over six per cent this morning, after the group announced a six per cent rise in pre-tax profit to £434m in the first half of the financial year, and a 26 per cent jump in Primark's profit. The group called the results “resilient”, despite facing ongoing challenges [...]
Primark to open stores in northeast US April 23, 2014 Primark is set to make its first foray in the US, opening stores in the north east, owner Associated British Foods has announced this morning. After “extensive research”, the decision’s been made to take the budget high street shop to consumers in the US, AB Foods said. A new store with 70,000 square feet of selling [...]
Primark sweetens outlook for AB Foods as sugar disappoints February 24, 2014 Associated British Foods has reported that it expects operating profits for the first half of the year to be in line with that of the previous year. The company expects low profits from sugar to be offset by a stella performance from Primark. Primark enjoyed strong sales in the first half and they are expected [...]
Primark props up AB Foods as sugar slumps January 16, 2014 ASSOCIATED British Foods said yesterday sales at its Primark discount fashion chain were strong over Christmas after being dampened by unseasonably warm autumn weather, helping offset a weaker-than-expected performance at its sugar unit. AB Foods said group revenue was flat for the 16 weeks to 4 January, compared with nine per cent growth for the [...]