Coronavirus: Primark owner ABF warns of long-term supply issues February 24, 2020 Primark’s owner today said it was considering ramping up production from suppliers outside of China in a bid to avoid a hit from the coronavirus outbreak. Associated British Foods (ABF) expects Primark will drive higher operating profit and sales for the six months to the end of February compared to the same period a year [...]
Primark UK store sales dip as retailer outlines expansion plans January 16, 2020 Primark’s like-for-like UK in-store sales dipped over the Christmas trading period, the budget retailer announced this morning. The high street chain’s owner Associated British Foods (ABF) said today that there was a “marginal decline” in like-for-like UK sales in the 16 weeks to 4 January. However, the impact of extra store space boosted total UK [...]
Primark set to drive another year of growth for ABF December 6, 2019 Associated British Foods (ABF), the British multinational which owns Primark, reiterated its outlook for the new financial year ahead of this morning’s AGM. The new financial year will see Primark expand its selling space, with the most new stores being added in France and Spain. Read more: Primark bounce helps offset sugar slump at ABF [...]
Primark store expansion plan offsets sales slump September 9, 2019 Primark is expected to report sales growth in its full-year results driven by the bargain retailer’s store expansion plan. Sales for the full-year, which will be announced in November, are expected to be four per cent up on last year, the retailer’s owner Associated British Foods (ABF) said in a trading update this morning. The [...]
Primark demands rent cuts after rivals secure insolvency boost July 28, 2019 Primark is said to be demanding rent cuts on dozens of stores as it looks to keep up with struggling rivals that have cut costs through insolvency procedures. The fashion chain is asking landlords to slash rent by 30 per cent on stores where the leases have several years remaining, and is offering lease extensions [...]
Has your business got real Pride? Don’t just talk the talk July 5, 2019 It’S 50 years since the Stonewall Riots, when New York’s gay community hit the streets to protest against police harassment, leading to the US gay rights movement and the worldwide LGBTQ campaign as we know it today. Progress continues to be made – and brands have been quick to spot the potential, both to promote [...]
Mountain Warehouse eyes store expansion as profits jump May 31, 2019 Outdoor clothing group Mountain Warehouse is eyeing an expansion on the high street this year after reporting today a double-digit rise in annual pre-tax profits and sales. The retailer, which currently runs 350 stores and employs 3,500 staff, is planning to open a further 50 stores this year, including roughly 20 in the UK, following [...]
Here’s why Boohoo shares are climbing higher May 2, 2019 | City Talk By Graeme Evans from interactive investor. Stock markets are struggling on boohoo's results day, but the retailer is defying the gloom. Fast fashion is back in vogue on the London market, with well-received results from Boohoo adding to euphoria over a spectacular 2019 for shares in AIM-listed rival ASOS (LSE:ASC). Their recent turnaround follows an [...]
Primark profits soar but owner ABF blames poor sugar performance for fall in profits April 24, 2019 Primark delivered an “excellent” 25 per cent profit growth in the six months to March even as owner Associated British Foods (ABF) saw overall income shrink. Read more: A look inside the world's largest Primark The figures ABF witnessed a huge 15 per cent year-on-year drop in statutory profit before tax to £515m after paying a [...]
Primark unveils its largest ever store with Disney cafe, barber shop and Wizard World April 11, 2019 The world’s biggest Primark opened its doors to customers for the first time this morning. Featuring a Disney-themed cafe, Hogwarts Wizarding World and barber shop, the new outlet spans 160,000 ft across five floors. A Disney-themed cafe is part of the new Primark store It is the latest sign of the budget retailer’s expansion, which [...]