Debate: Will digital retailers continue to hoover up high street chains? January 27, 2021 Boohoo’s purchase of the Debenhams brand, and Asos’ pursuit of Topshop, suggests that the online revolution has very much succeeded. But is it that simple? Vicky Bullen, CEO, Coley Porter Bell says YES You don’t have to be Mike Ashley to spot the enormous opportunity in online retail since the coronavirus pandemic hit. Never before [...]
Debate: Should Primark open an online store? January 13, 2021 Overnight opening hours, queue-management systems and lashings of promotions – Primark did everything it could to keep its customers happy amid a year of on/off lockdown restrictions. But with parent company Associated British Food’s trading update out this week, is it time for the High Street phenomenon to go digital, too? Kam Phullar, Lead Strategist [...]
Second national lockdown wipes £430m off Primark’s balance sheet December 4, 2020 England’s second national lockdown wiped an estimated £430m off Primark’s balance sheet, as the pandemic continues to decimate British high street retailers. Speaking ahead of Primark’s annual general meeting later today, chairman Michael McLintock said: “Our estimate for the loss of sales for the announced periods of closure this autumn is now some £430m.” The [...]
Primark to reopen all stores in England with extended hours on 2 December November 27, 2020 Primark will reopen all of its stores in England when lockdown lifts next week, with extended opening hours to cope with higher demand ahead of the holiday season. The fast fashion giant has 153 stores in the country, 11 of which, including the White City store in west London, will open for 24 hours on [...]
Primark owner profit slumps as pandemic batters sale November 3, 2020 Primark owner Associated British Foods (ABF) has posted a sharp decline in profit for the full year as store closures during the coronavirus lockdown decimated sales. The figures ABF posted revenue of £13.9bn in the year to 12 September, down 12 per cent on 2019. Statutory pre-tax profit slumped 42 per cent to £686m. Basic [...]
Primark warns of £375m sales hit due to second lockdown November 2, 2020 The owner of Primark has warned it will suffer a sales hit of £375m as it prepares to shutter stores across England due to new lockdown measures. In a market update this morning, Associated British Foods (ABF) said 19 per cent of its selling space is currently closed due to Covid-19 restrictions in the Republic [...]
Shops reopen to long queues as social distancing measures come into force June 15, 2020 Retailers this morning flung open their doors to the public for the first time since the coronavirus lockdown was imposed in March. People formed long queues outside Primark outlets in London and Birmingham this morning before the shops reopened at 8am, in a signal that despite fears that footfall would be low initially, there was [...]
Which retailers are reopening as the coronavirus lockdown lifts? June 12, 2020 After two months of being closed during the coronavirus lockdown, Britain’s high streets are coming back to life. Across the board, retailers across the country are working out how to get their businesses going again – and what measures they need to take to keep people safe. So what shops can customers expect to open [...]
Coronavirus: Primark agrees £370m deal with suppliers after backlash April 20, 2020 Primark has agreed to pay an extra £370m to suppliers after the budget retailer was criticised for cancelling orders during the coronavirus lockdown. The high street giant announced this morning that it will now “take all product that was both in production and finished, and planned for handover by 17 April”. Primark had previously committed [...]
Primark owner ABF confirms eligibility for coronavirus loan April 17, 2020 Primark owner Associated British Foods has announced that it is eligible for funding from the government’s Covid Corporate Financing Facility during the coronavirus outbreak. All of the budget retailer’s 376 stores across 12 countries have been closed since March 22, which represents a loss of £650m net sales each month. However the company is hoping [...]