Retail supplier Li & Fung hit by slow shopping August 21, 2015 SLOWING consumer demand in Europe and the US triggered a fall in retail supplier Li & Fung’s profits this half-year, the company said yesterday. The Hong Kong-based exporter, which supplies stores in the UK such as Primark and Marks and Spencer, said core operating profits fell by a fifth to $182m (£130m) from $227m for [...]
Fat Face plots first US store despite profit fall August 21, 2015 FAT FACE is gearing up for expansion overseas after revealing plans yesterday to open its first two stores in the US before Christmas. The casual clothing chain, which has 216 shops in the UK and Ireland has invested a record £9m over the past year on improving its IT and distribution network as well as [...]
FTSE 100 bosses have old names August 18, 2015 FTSE 100 chiefs may be upset to learn that their once commonplace names have had their day. According to the Office for National Statistics, no female FTSE 100 chief exec shares a name with one of the top 10 most popular baby names in the UK. As for the men, none of the top boss [...]
Paris Primark: Gunmen hold up store in suspected armed robbery in suburb of Villeneuve-la-Garenne July 13, 2015 Gunmen have held up a Primark store in the suburbs of Paris in a suspected armed robbery, with several people reportedly held hostage. The Primark store is located in the Qwartz shopping centre in Villeneuve-la-Garenne, an area to the north of the centre of Paris. Further reports say around 18 people have been evacuated from [...]
After US launch Primark heads for Italy; opening first stores in Milan next year July 10, 2015 Primark is so inspired by its "Primarni" nickname, it's entering the Italian market ahead of schedule, it said today. The fashion brand will open the first of up to three Italian stores in Milan next summer, according to owner Associated British Foods. Shares in the group rose, following a trading update reporting a “modest decline” [...]
FTSE lifted by a housebuilders and AB Foods – London Report July 9, 2015 BRITAIN’S top equity index moved further away from this week’s six-month lows yesterday, lifted by well-received results from Associated British Foods and Barratt Developments. AB Foods, the owner of Primark, gained 5.1 per cent to 3,082p to be the top riser on the blue-chip FTSE 100 after it posted robust results, maintaining guidance and with [...]
Best of the Brokers for 09 July 2015 July 8, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com ASSOCIATED BRITISH FOODS Panmure Gordon reiterated its “sell” rating on the food group, noting that while there is a positive investment case to be made based upon sustained roll out of Primark, the current valuation already implies double digit growth for the next [...]
Marks & Spencer slips back into decline after just one quarter of growth July 7, 2015 Marks and Spencer's general merchandise arm has slipped back into decline following just one quarter of growth. The figures: M&S' story is pretty much the same as it has been for many months. Total sales in general merchandise were up 0.2 per cent but like-for-likes were down 0.4 per cent, reversing a solitary [...]
Dixons Carphone boss Sebastian James steals Retail Week Power List crown from Next’s Simon Wolfson June 26, 2015 Dixons Carphone chief executive Sebastian James has been crowned the most powerful person in British retailing, knocking Next's Simon Wolfson off the top spot. James has stolen the number one position in Retail Week's annual Power List, published today, for his work successfully merging the two retailers, creating a £10bn business that swooped into [...]
Best of the Brokers for 24 June 2015 June 23, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com ASSOCIATED BRITISH FOODS RBC Capital Markets has downgraded the Primark owner from “outperform” to “sector perform” with a target price of 3,200p. The broker said that while Primark relatively rare international roll-out story, the company is lacking earnings momentum and its sees more [...]