It’s a tale of two Christmasses for Primark owner Associated January 15, 2015 CHRISTMAS was sweet and sour for Primark owner Associated British Foods, with the discount clothing chain reporting a 15 per cent jump in sales over the festive period. However, ABF forecast a slight decline in full-year profits after reporting a three per cent rise in group revenues for the last quarter at constant currency rates. [...]
Primark sales soar 15pc but Associated British Foods warns lower sugar prices will hit profits January 15, 2015 Primark will not do enough to offset the fall in sugar prices and currency headwinds for parent company Associated British Foods, which is expecting a "marginal decline" in adjusted earnings per share for the year. Total revenues at ABF grew three per cent for the 16 weeks to 3 January, with Primark providing the bulk [...]
After magnificent year Primark shakes off retail’s winter blues November 4, 2014 PRIMARK’S “magnificent” performance over the past year caught the imagination of investors yesterday as shares in owner Associated British Foods (ABF) jumped 4.2 per cent on news of the discount retailer’s trading. Only last week, Next warned that the impact of the unexpectedly warm autumn was set to hit most high street retailers. However, ABF [...]
Associated British Foods share price rises as Primark revenues jump November 4, 2014 Shares in Primark parent company Associated British Foods (ABF) rose 1.65 per cent in early trading, as a "magnificent year" for Primark helped create record increases in earnings and profit before tax in its full-year results today. ABF chief executive George Weston said: “Primark’s trading success and significant expansion delivered another magnificent year.” [...]
Primark strikes deal with Sears to open seven stores in the US October 20, 2014 PRIMARK has struck a deal to open seven stores in the US, including its first in New York, through a leasing deal with retailer Sears. The value retailer revealed yesterday it has agreed to take around 520,000 square feet of unwanted retail space from Sears in shopping malls in the north east of the US. [...]
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 [...]
Dorset Cereals sold for £50m June 4, 2014 ASSOCIATED British Foods (ABF), owner of high street retailer Primark, has reportedly secured a £50m deal to take over Dorset Cereals. Dorset Cereals is currently owned by Wellness Foods, which also owns Rowse Honey, and according to Sky News the bidding attracted interest from Kellogg and Weetabix. ABF made the deal through its Jordans & [...]