Primark moves into CD business September 30, 2012 Discount high street clothing store Primark is set to expand into music by experimenting with selling CDs in some of its 242 stores. Primark has reached a distribution deal with Universal, which recently had its purchase of EMI approved by the European Union, to sell music by artists signed to the label. The clothing chain, [...]
Best of the Brokers September 16, 2012 KIER Liberum has cut its rating on the construction and property group from “buy” to “hold” with a target price of 1,400p. The broker remains impressed by the firm’s management team and strong balance sheet, but has downgraded the stock to reflect a soaring share price. Liberum also points out that Kier’s aim of expanding [...]
Primark helps AB Foods buck market gloom September 10, 2012 PRIMARK owner Associated British Foods said it is set to enjoy a jump in full year profits thanks to a strong performance at the group’s discount fashion retailer, which continued to strike a chord with cash-strapped shoppers. Sales at Primark for the year to 15 September are expected to be 17 per cent ahead of [...]
Analyst Views | What was your reaction to AB Foods’ trading update? September 10, 2012 DARREN SHIRLEY | SHORE CAPITAL ABF has issued an update that has confirmed strong momentum has been sustained through Q4… In our view, the continuing strength of ABF’s performance in an increasingly challenging consumer environment further demonstrates that Primark is possibly the most potent retail format in the UK. GRAHAM JONES | PANMURE GORDON ABF [...]
FTSE dwindles as defensive stocks drop ahead of Fed and euro news September 10, 2012 BRITISH blue chip shares dipped yesterday as weakness in defensive stocks outweighed strength in risk-sensitive cyclicals, such as miners, and investors positioned for more newsflow out of Europe and the United States. The FTSE 100 closed down 1.60 points, or 0.03 per cent, at 5,793.20, with the index yo-yoing in a tight range around the [...]
Retailers report but all eyes on world economy September 9, 2012 THE GLOBAL economy will once again set the tone for the markets this week, with a crucial German ruling on the new bailout fund due on Wednesday and a potential move on QE3 by the US Federal Reserve on Thursday. Greek leaders will today meet with their creditors to outline further austerity measures. And UBS’s [...]
Primark and a Jubilee bake-off helps AB Foods lift its revenues July 12, 2012 ASSOCIATED British Foods yesterday said it was on track for a big rise in full-year adjusted earnings as cash-strapped shoppers braved wet weather to snap up budget fashions at its Primark clothing chain. The FTSE 100 company, which also owns brands such as Silver Spoon sugar and Twinings tea, said a 16 per cent growth [...]
Primark keeps AB Foods on track July 12, 2012 Associated British Foods confirmed that it is on track for substantial growth in full-year adjusted operating profit and adjusted earnings per share after a strong performance from its discount fashion chain Primark boosted year-to-date revenues. The London-based food and retailing group said that revenues rose 11 percent in the 40 weeks to 23 June, or [...]
FTSE pegged back by miners July 9, 2012 The FTSE 100 edged down in early trading today as disappointing jobs data out of the US on Friday continued to cast a shadow over global markets. The 80,000 increase in payrolls in June was slightly below market expectations for an increase of about 90,000 and was not enough to reduce the unemployment rate, which [...]
Banks and miners lead FTSE lower June 8, 2012 Miners and banks led the FTSE down in early trading as investors shunned riskier assets and ran for cover as global economic growth stutters. The fall tracked losses on Wall Street yesterday and Asia overnight despite an initial boost after China cut its interest rates in an attempt to accelerate its growth. But US Federal [...]