Retail sales fall less than expected September 15, 2011 Retail sales fell slightly less than expected in August, but the underlying trend remained flat, as consumers continued to rein in spending at a time of great economic uncertainty, official data showed. The Office for National Statistics said sales volumes including automotive fuel fell 0.2 per cent last month, slightly better than forecasts for a [...]
WESTFIELD AT STRATFORD: OUR PICK OF THE SHOPS September 13, 2011 CLOTHES & ACCESSORIES ASPINAL OF LONDON The second standalone shop for this affordable heritage brand, Aspinal has a plum position at the start of the Street, and is a wonderfully windowy space, glinting with cufflinks, jewels and charms and full of its signature bright croc skin bags and wallets. FOREVER 21 There were nearly 400 [...]
AB Foods says Primark margin dented by sales September 12, 2011 AB Foods said yesterday that margins were being squeezed at its Primark stores as prices were slashed in the tough consumer climate. The company said it is having to cut prices and launch early sales to keep tills ringing, in an update before the end of its trading year on 17 September. AB Foods, which [...]
ANALYST VIEWS: IS AB FOODS PERFORMING WELL IN TOUGH MARKETS? September 12, 2011 GRAHAM JONES | PANMURE GORDON We have pencilled in 10 store openings at Primark next year, we remain bullish about the expansion opportunities across Continental Europe, where trading has remained strong, and believe the pipeline for new stores remains good. We reiterate our Buy recommendation and 1200p price target ANDREW WOOD | BERNSTEIN Despite having [...]
AB Foods reports flat earnings September 12, 2011 Primark-owner Associated British Foods said it is on track to deliver flat annual earnings on Monday with better than expected sugar profits helping to offset lower than forecast margins at its discount fashion chain. The food and retail group said it expected Primark’s annual like-for-like sales to rise three per cent after a similar rise [...]
Family businesses see sales hike August 17, 2011 THE economy may be weighed down by high inflation and unemployment but family owned businesses appear to be weathering the storm. The top 10 family owned firms all increased their sales in the last year. Total sales for the UK’s biggest family-owned businesses rose 10.2 per cent to £35.5bn, driven by a strong performance from the [...]
FTSE steadied by Greek breakthrough July 21, 2011 The FTSE 100 started solidly this morning as it emerged that France and Germany had reached an agreement on a second bailout for Greece. Banks led the way as investors gained confidence in stocks recently buffeted by fears of exposure to the debt crisis which has engulfed the Eurozone. Leaders of the 16-country bloc will [...]
Land Securities to start £275m of retail projects July 17, 2011 LAND Securities is close to starting work on a number of shopping development projects worth £275m, despite tough economic conditions still facing the retail sector. Britain’s biggest property company has lined up seven new projects in south-east England and the Midlands for retailers including Tesco and Primark, that together will create more than 1,000 jobs [...]
AB Foods boosted by sales at Primark July 14, 2011 ASSOCIATED British Foods said yesterday said it was on track to meet its full-year earnings targets as its budget clothing chain Primark helped to shore up its profit. AB Foods, whose brands include Silver Spoon sugar, Mazola vegetable oil, Ovaltine drinks and Twinings tea, cut its full-year earnings forecast to a flat out-turn in April. [...]
ANALYST VIEWS: HOW WELL IS AB FOODS MANAGING RISING COSTS? July 14, 2011 ANDREW WOOD | BERNSTEIN Slowing results have seen a poor stock performance. While the management update may drive a relief rally that guidance was not reduced, we see little justification for a sustained rally in the stock. GRAHAM JONES | PANMURE We remain bullish about the opportunity for Primark to continue its roll-out in Iberia, [...]