Primark debuts targets to slash environmental impact September 15, 2021 Fast fashion chain Primark has pledged to improve its environmental impact with changes to its products and boosting workers’ wages. The retailer said it would use more recyclable materials, make sure clothing lasted longer, and raise wages for workers, all while keeping prices the same for the consumer. This is the first time Primark has [...]
ABF pins ‘lower than expected sales’ at Primark on summer pingdemic September 13, 2021 Sales at Primark, a subsidiary of Associated British Foods, have dipped below expectations in the last year, as Gen Z shoppers move away from fast fashion brands. In its pre-close trading update for the full year to 18 September, Associated British Foods (ABF) said: “We have seen a significant improvement in trading as the period [...]
Primark’s Oxford Street and Wood Green changing rooms to turn into pop-up Covid jab clinics this weekend August 27, 2021 Primark changing rooms at two London stores will become vaccination clinics this bank holiday weekend. Shoppers can turn up without an appointment and get a first or second dose of the Pfizer coronavirus vaccine, NHS England said. The popular clothing chain store has partnered with the NHS, Haringey Council and Westminster City Council to host [...]
Meet Shein: The secretive Chinese fast-fashion firm taking over online retail July 27, 2021 Taking the Tube at the minute can still, at times, feel like time travel. Around you are slightly tattered posters for theatre productions that haven’t been on stage for more than a year; ads for movies touted for cinema release that ended up quietly released to Netflix with little fanfare. Amongst these relics of a [...]
Revolution Beauty to make stock market debut July 13, 2021 Revolution Beauty are plotting a float on London’s alternative markets valuing the company at nearly half a billion pounds. The float has received strong support from shareholders and was significantly oversubscribed, the UK-based firm said this morning. Read more: Asos enters deal with Nordstrom to bolster Topshop’s US presence Adam Minto, the beauty firm’s boss [...]
Amazon, Starbucks and Ikea among retailers demanding new laws against violence in shops July 4, 2021 A total 100 of the UK’s major retailers, including Aldi, Costa and Primark, have called upon the Prime Minister to help tackle escalating abuse and violence against retail workers. In a letter to Boris Johnson, the retailers asked him to support an amendment to the Police, Crime and Sentencing and Courts Bill that they believe [...]
FTSE 100 climbs as Sunak outlines post-Brexit financial services roadmap July 1, 2021 London’s FTSE 100 surged this afternoon as investors digested the Chancellor’s post-Brexit roadmap for the UK’s financial service industry. The capital’s premier index climbed 1.25 per cent in afternoon trading to reach 7,125. The rally came after Chancellor Rishi Sunak outlined plans to make the UK financial services industry more competitive on the global stage. [...]
H&M to cut 250 stores this year as customers head online July 1, 2021 H&M plans to shut 250 stores globally this year as part of its strategy to recover from the Covid-19 pandemic, which saw many of its shops shut for months at a time. The fashion retailer said the closure of the shops was in response to more customers shopping online, but declined to say how many [...]
Polar Capital profits surge 49 per cent July 1, 2021 Asset manager Polar Capital posted a robust set of results this morning, driven by strong inflows into its funds. Pre-tax profit climbed 49 per cent to £75.9m in 2021, up from £50.8m in the previous year. The firm recorded net inflows into its funds of £517m in the quarter to 25 June 2021. Assets under [...]
Primark lifts profit forecast after store reopenings boost sales July 1, 2021 Primark has hiked its profit forecast for the full year after the easing of lockdown restrictions drove a sharp rise in sales for the third quarter. Parent company Associated British Foods (ABF) said profit at the budget fashion chain would be roughly in line with last year — up from previous guidance of “somewhat lower”. [...]