Primark’s Union Jack sales boost profits at Associated British Food November 6, 2012 ASSOCIATED British Food’s chief executive has said customers snapping up Primark’s Union Jack themed merchandise during the Olympics and the Diamond Jubilee helped spur a 17 per cent rise in group full-year profit. George Weston said the discount fashion chain sold more than 7.5m items stamped with the flag as Brits and overseas visitors bought [...]
After its profits once again disappoint, can Marks & Spencer return to its former glory? November 6, 2012 YES Rafael Gilston Marks & Spencer sits squarely in the mid-market. Because of this, it’s under constant attack from more specialist brands like Next (for families), John Lewis (for labels), Zara (for the career woman) and even New Look (for teenagers and young adults). The historical legacy of the Marks & Spencer brand is that, by [...]
Rapid responses November 6, 2012 Minimum wage [Re: As the mayor announces a rise in London’s Living Wage, does it make economic sense? Yesterday] Sam Bowman is right that low paid workers should be taxed less. The Institute for Fiscal Studies has shown that, if firms paid the Living Wage, the government would knock £1,000 per worker off of the [...]
East Oxford Street prepares for major high street regeneration October 30, 2012 THE ARRIVAL of Crossrail and the regeneration of Tottenham Court Road is set to double spending growth in the area by £448m over the next 12 years, according to a report commissioned by the New West End Company. The east end of Oxford Street has struggled over the years to shake off its image as [...]
Primark moves into CD business September 30, 2012 Discount high street clothing store Primark is set to expand into music by experimenting with selling CDs in some of its 242 stores. Primark has reached a distribution deal with Universal, which recently had its purchase of EMI approved by the European Union, to sell music by artists signed to the label. The clothing chain, [...]
Best of the Brokers September 16, 2012 KIER Liberum has cut its rating on the construction and property group from “buy” to “hold” with a target price of 1,400p. The broker remains impressed by the firm’s management team and strong balance sheet, but has downgraded the stock to reflect a soaring share price. Liberum also points out that Kier’s aim of expanding [...]
Primark helps AB Foods buck market gloom September 10, 2012 PRIMARK owner Associated British Foods said it is set to enjoy a jump in full year profits thanks to a strong performance at the group’s discount fashion retailer, which continued to strike a chord with cash-strapped shoppers. Sales at Primark for the year to 15 September are expected to be 17 per cent ahead of [...]
Analyst Views | What was your reaction to AB Foods’ trading update? September 10, 2012 DARREN SHIRLEY | SHORE CAPITAL ABF has issued an update that has confirmed strong momentum has been sustained through Q4… In our view, the continuing strength of ABF’s performance in an increasingly challenging consumer environment further demonstrates that Primark is possibly the most potent retail format in the UK. GRAHAM JONES | PANMURE GORDON ABF [...]
FTSE dwindles as defensive stocks drop ahead of Fed and euro news September 10, 2012 BRITISH blue chip shares dipped yesterday as weakness in defensive stocks outweighed strength in risk-sensitive cyclicals, such as miners, and investors positioned for more newsflow out of Europe and the United States. The FTSE 100 closed down 1.60 points, or 0.03 per cent, at 5,793.20, with the index yo-yoing in a tight range around the [...]
Retailers report but all eyes on world economy September 9, 2012 THE GLOBAL economy will once again set the tone for the markets this week, with a crucial German ruling on the new bailout fund due on Wednesday and a potential move on QE3 by the US Federal Reserve on Thursday. Greek leaders will today meet with their creditors to outline further austerity measures. And UBS’s [...]