Primark chief regrets raising prices but says it is ‘a reflection of the scale of inflation we are seeing’ May 31, 2022 Primark executive John Bason said he “regrets” the fashion firm’s decision to raise prices. In April, Primark warned that it will increase prices on its autumn and winter collection as costs go up for businesses around the world. The budget fashion chain said it would make “selective” rises in the range. Bason, who is the [...]
FTSE 100 continues rally as markets boosted by relaxing of China’s Covid measures May 30, 2022 London’s FTSE 100 hit its highest level in a month, buoyant by 0.4 per cent, as the relaxing of Covid restrictions in China boosts confidence across international markets. The capital’s premier FTSE 100 index climbed to 7615.82, having closed at 7,585.46 on Friday. British Airways owner International Airlines Group led the charge with a three [...]
Primark to introduce ‘selective’ price increases to offset pressures April 26, 2022 The owner of Primark has said it will be forced to raise prices on “selective” products in its autumn/winter ranges and issued a margin outlook warning. Associated British Foods (ABF) said its half-year sales and operating profit for the group returned to pre-Covid levels, in interim results for the 24 weeks ended 5 March 2022. [...]
Primark launches ‘virtual shop window’ but shoppers still can’t buy clothes online April 7, 2022 Primark has launched a new website – but shoppers still can’t buy anything online. The budget fashion retailer said its new site is a “virtual shop window,” and will allow customers to look at product information and check whether an item is in stock at their local shop. The high street name has stood out [...]
Investors hunt for bargains amid global market turmoil March 9, 2022 Investors have piled into flagging equities in the past week as they hunt for bargains amid the market turmoil sparked by Russia’s invasion of Ukraine.
ABF and Primark sales to surpass pre-Covid levels as consumers eye luggage and swimwear February 28, 2022 Associated British Foods (ABF), which also owns budget retail chain Primark, has said it is on track to surpass pre-Covid levels of sales and operating profit. The food manufacturer has been battling against inflation, alongside the rising costs of energy, but anticipates grocery revenue to inch two per cent higher than 2021. While Primark sales [...]
Greggs and Primark roll out fashion range together February 8, 2022 Bakery chain Greggs has announced it is collaborating with Primark to launch a limited-edition fashion collection. A range of 11 clothing items will launch across 60 Primark stores from 19 February , with clothes branding the Greggs logo and slogans such as “It’s a pastry thing.” The two high street names will open an appointment-only [...]
Primark to cut 400 jobs across the UK as part of overhaul of management team January 20, 2022 Primark owner Associated British Foods has reported a 16 per cent boost in group revenues for the 16 weeks up to 8 January 2022.
Retail in 2022: Leisure explosion and flexible landlords will give the UK high street a much-needed boost this year January 11, 2022 Demand for property outside traditional retail and pragmatic landlords have given “renewed optimism” for some high streets and shopping districts despite the toll of the pandemic, according to industry experts. The pressure from lockdown measures, after a steady decline in recent years, saw vacancy rates across shopping destinations hit record levels in the second quarter [...]
Merciless Omicron beating: Retail sector in shock as Boxing Day sales in central London plummet by nearly 70 per cent December 27, 2021 Retailers in central London and across the UK are in shock as the number of bargain hunters looking for Boxing Day sales on the high street plummeted to almost half of pre-pandemic levels. In central London, footfall was 67 per cent lower than 2019 numbers, while it was 58 per cent below 2019 in other [...]