Japan’s Nikkei sinks after global stocks’ Covid-19 plunge February 25, 2020 Japan’s stock market plummeted overnight after a plunge in global stocks yesterday as investors reacted to a rapid spread of the Cobvid-19 strain of coronavirus outside of China. The Nikkei sank 3.3 per cent after US and European stocks suffered similar falls as Italy revealed a huge rise to 229 cases of the Covid-19 virus. [...]
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 bounce helps offset sugar slump at ABF November 5, 2019 Ingredients group Associated British Food posted a slight rise in profit for the last 12 months, as a strong showing in fashion arm Primark offset a sharp slowdown in its embattled sugar business. Shares in the FTSE 100 group climbed four per cent to 2,329p in early morning trading. The figures Adjusted operating profit hit [...]
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 owner blames sales drop on ‘unseasonable’ weather July 4, 2019 Primark sales rose four per cent above last year’s level for the year to date, owner Associated British Foods (ABF) said today. Read more: Primark sales soar but sugar sales drop at owner ABF However, like-for-like sales actually fell in the 40 weeks to 22 June, with the sales boost coming largely from new stores. [...]
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 boosts revenue with new store openings but warns on like-for-like sales drop February 25, 2019 Primark said today it expects half-year sales to grow four per cent compared to last year, driven by new store openings, but the budget fashion retailer will post a two per cent drop in like-for-like sales. In the UK sales were up two per cent, while Eurozone sales jumped five per cent with strong growth in Spain, France, Italy and Belgium. However, [...]
Primark sales sweeten the pill as retailer outperforms Christmas gloom January 17, 2019 Primark today reported a rise in revenues over the festive period as store expansion outweighed a fall in like-for-like sales. The fashion retailer saw UK sales rise one per cent on last year in the 16 weeks to 5 January, defying a downturn in the wider retail market. Read more: Retail sector suffers worst Christmas in [...]