FTSE 100 climbs higher on US-China trade war hopes as pound slips November 5, 2019 The FTSE 100 opened higher as it mirrored a rise in Asian markets and Wall Street overnight amid growing optimism over US-China trade negotiations. Buoyed by reports that President Trump may remove tariffs from some Chinese goods, Japan’s Nikkei climbed 1.8 per cent while China’s Shanghai Composite moved 0.5 per cent higher. Read more: US [...]
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 [...]
Marks and Spencer set to be ejected from FTSE 100 for first time in 35 years September 3, 2019 Marks & Spencer is set to lose its place in the FTSE 100 list of the UK’s biggest companies tomorrow after 35 years, ending its long-held membership as one of 28 original firms. Read more: Marks and Spencer to shut seven stores for final time in restructuring The troubled retailer will drop down to the [...]
Stop all that corporate drivel and get to the point July 29, 2019 Lots of recent heavy-duty research suggests that millennials and generation Z are different from other consumers. According to such studies, these younger generations care more about ethical issues and the environment, they want to know what their pensions and investments are being used for, and they want to buy from companies that have a higher [...]
Primark demands rent cuts after rivals secure insolvency boost July 28, 2019 Primark is said to be demanding rent cuts on dozens of stores as it looks to keep up with struggling rivals that have cut costs through insolvency procedures. The fashion chain is asking landlords to slash rent by 30 per cent on stores where the leases have several years remaining, and is offering lease extensions [...]
Primark founder Arthur Ryan dies following short illness July 8, 2019 Primark founder Arthur Ryan has died, the high street retailer announced today. Ryan, who was the chairman and former chief executive of the budget fashion chain, passed away aged 83 following a short illness. Read more: Primark owner blames sales drop on unseasonable weather The businessman founded the first Primark store under the name Penney’s [...]
Has your business got real Pride? Don’t just talk the talk July 5, 2019 It’S 50 years since the Stonewall Riots, when New York’s gay community hit the streets to protest against police harassment, leading to the US gay rights movement and the worldwide LGBTQ campaign as we know it today. Progress continues to be made – and brands have been quick to spot the potential, both to promote [...]
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. [...]
Hedge funds step up bets against retail landlord New River June 30, 2019 Hedge funds are betting against New River as concerns rise that it could be the latest retail landlord hurt by the industry’s struggles. The short position in the company has increased to 7.35 per cent compared to 5.41 per cent on 1 July last year, according to disclosed positions published by Shorttracker. Read more: New [...]