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Associated British Foods

  • Branston pickle, Cadbury flake and crumpets among top five UK exports expats craved during pandemic

    March 11, 2021

    Demand for UK food from exporter British Corner Shop surges in US amid revenue rise by 150 per cent

  • Primark owner takes £1.5bn sales hit from lockdown restrictions

    February 25, 2021

    Primark owner Associated British Foods (ABF) this morning warned lockdown store closures would take £1.1bn off first half sales

  • Primark expects £1bn sales hit due to lockdown store closures

    January 14, 2021

    Associated British Foods (ABF), the owner of Primark, said the closure of the budget fashion chain’s stores had cost the company £540m in lost sales so far, warning the total could reach £1bn due to ongoing restrictions.   ABF said the loss of sales due to temporary store closures will cost the firm £1.05bn if they [...]

  • Debate: Should Primark open an online store?

    January 13, 2021

    Overnight opening hours, queue-management systems and lashings of promotions – Primark did everything it could to keep its customers happy amid a year of on/off lockdown restrictions. But with parent company Associated British Food’s trading update out this week, is it time for the High Street phenomenon to go digital, too? Kam Phullar, Lead Strategist [...]

  • Second national lockdown wipes £430m off Primark’s balance sheet

    December 4, 2020

    England’s second national lockdown wiped an estimated £430m off Primark’s balance sheet, as the pandemic continues to decimate British high street retailers. Speaking ahead of Primark’s annual general meeting later today, chairman Michael McLintock said: “Our estimate for the loss of sales for the announced periods of closure this autumn is now some £430m.” The [...]

  • Weekly outlook, 2-6 November: FTSE heavyweights in spotlight as election day arrives

    November 2, 2020

    It’s election day at last, and while the outcome of Tuesday’s vote in the US will drive the headlines for much of this week and beyond, there’s still a full slate of results and economic updates in store for UK markets. With coronavirus cases now surging at an alarming rate, Boris Johnson has announced a [...]

  • Primark sales surge towards £2bn in post-lockdown rebound

    September 7, 2020

    Primark owner Associated British Foods (ABF) said today that sales at the high street chain had surged in the fourth quarter as shoppers rushed back to the high street after lockdown. Despite the three-month lockdown period, ABF said Primark was on course to make a profit of £350m this year, the top end of previous [...]

  • Primark owner ABF confirms eligibility for coronavirus loan

    April 17, 2020

    Primark owner Associated British Foods has announced that it is eligible for funding from the government’s Covid Corporate Financing Facility during the coronavirus outbreak. All of the budget retailer’s 376 stores across 12 countries have been closed since March 22, which represents a loss of £650m net sales each month.  However the company is hoping [...]

  • Primark UK store sales dip as retailer outlines expansion plans

    January 16, 2020

    Primark’s like-for-like UK in-store sales dipped over the Christmas trading period, the budget retailer announced this morning.  The high street chain’s owner Associated British Foods (ABF) said today that there was a “marginal decline” in like-for-like UK sales in the 16 weeks to 4 January. However, the impact of extra store space boosted total UK [...]

  • Primark set to drive another year of growth for ABF

    December 6, 2019

    Associated British Foods (ABF), the British multinational which owns Primark, reiterated its outlook for the new financial year ahead of this morning’s AGM. The new financial year will see Primark expand its selling space, with the most new stores being added in France and Spain. Read more: Primark bounce helps offset sugar slump at ABF [...]

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