Primark sales up but Associated British Foods warns strong pound will weigh on earnings February 23, 2015 Associated British Foods (ABF), the owner of the Primark clothing chain, warned investors today that a strong pound would likely lead to a “marginal decline” in adjusted earnings per share for the full year. Sales at its Primark division are expected to grow thanks to strong Christmas sales and expansion into Europe – [...]
Fortnum & Mason’s Canadian owner makes £105m windfall February 22, 2015 THE CANADIAN owners of Fortnum & Mason and Associated British Foods have made £105m in dividends – most of which will go to charitable causes – after another buoyant year. Accounts filed recently on Companies House reveal that Wittington Investments, one of the main investment vehicles of the Weston Family, paid out £63m in the [...]
Sales down but market share up as New Look turnaround continues February 10, 2015 New Look has suffered declines in the “unseasonably warm” three months to December 27- but the fast fashion chain is still buoyant after growing market share. The figures New Look's revenues dropped 1.6 per cent in the third quarter, from £406.6m to £399.9m. Adjusted EBITDA was £76.8m, down 2.7 per cent from £78.9m last [...]
Developers confirm a start date for £440m Westgate Oxford shopping area February 9, 2015 Developers have confirmed that construction on a £440m Westgate Oxford retail and leisure scheme will start in spring, after four years of planning. The Westgate Oxford Alliance, a joint venture between Land Securities and The Crown Estate, said the new 800,000 square foot development will expand the existing Westgate in Oxford city centre by adding [...]
BHS sale spells break-up of Philip Green’s empire January 26, 2015 SIR PHILIP Green is looking to sell a chunk of the vast retail empire he has built up over the last 15 years after receiving several takeover approaches for the struggling department store group BHS. Green bought the chain – then known as British Home Stores – for £200m in 2000 from retail conglomerate Storehouse, [...]
ECB bond-buying programme sends indices soaring up – London Report January 22, 2015 THE EUROPEAN Central Bank’s €1.14 trillion bond-buying programme sent UK shares to their highest level for four months yesterday. The FTSE 100 finished up 68.59 points, or 1.02 per cent, at 6,796.63, its highest since 19 September last year. Among the risers Royal Mail gained 3.55 per cent to 445.80p after a good Christmas performance [...]
It’s a tale of two Christmasses for Primark owner Associated January 15, 2015 CHRISTMAS was sweet and sour for Primark owner Associated British Foods, with the discount clothing chain reporting a 15 per cent jump in sales over the festive period. However, ABF forecast a slight decline in full-year profits after reporting a three per cent rise in group revenues for the last quarter at constant currency rates. [...]
Primark sales soar 15pc but Associated British Foods warns lower sugar prices will hit profits January 15, 2015 Primark will not do enough to offset the fall in sugar prices and currency headwinds for parent company Associated British Foods, which is expecting a "marginal decline" in adjusted earnings per share for the year. Total revenues at ABF grew three per cent for the 16 weeks to 3 January, with Primark providing the bulk [...]
Goodbye Christmas jumpers – hello Christmas suits? The must-have self-purchase for 2014 revealed. Maybe December 2, 2014 Christmas wouldn't be Christmas without a novelty outfit of some sort. The Christmas jumper has been a long-time favourite but, as with the Shoreditch beard that has grown in popularity over a similar period, it's safe to say we've now reached peak-jumper. Last year every retailer from Tesco to John Lewis jumped on the [...]
London’s New Bond Street one of world’s 10 most expensive streets: Will Oxford Street catch up? November 19, 2014 New Bond Street has once again been named as London's most expensive street with its luxury retailers paying some of the highest rents in the capital – though it has got some competition coming from Oxford Street. The upmarket shopping street, which is home to the likes of Burberry and Louis Vuitton, saw prime retail [...]