Primark bosses take 50 per cent pay cut over coronavirus April 3, 2020 Primark bosses have taken a 50 per cent pay cut and cancelled bonuses after warning of a huge slump in 2020 profit due to coronavirus. Chief executive Paul Marchant’s base pay will be halved temporarily. George Weston and John Bason, CEO and chief financial officer of Primark owner Associated British Foods (ABF), will also take [...]
Shell’s court case for oil spills in Nigeria exposes our failure to deal with supply chain abuses February 17, 2023 Earlier this month, more than 11,000 Nigerian residents filed a claim at the High Court in London. Their fight was with Shell, the oil giant. But the case is also a significant test of the how far responsibility for multinationals reaches.
Coronavirus: Primark to close all UK stores as pandemic hits high street March 22, 2020 Primark is set to shutter all 189 of its UK stores from tonight as the coronavirus outbreak threatens to bring the UK high street to its knees. The budget fashion retailer has already closed stores accounting for 20 per cent of its selling space globally, and is now preparing to close its entire store estate. [...]
Coronavirus: Primark owner ABF warns of long-term supply issues February 24, 2020 Primark’s owner today said it was considering ramping up production from suppliers outside of China in a bid to avoid a hit from the coronavirus outbreak. Associated British Foods (ABF) expects Primark will drive higher operating profit and sales for the six months to the end of February compared to the same period a year [...]
FTSE 100 close: London up as markets digest unemployment, wages and pensions data September 12, 2023 London's FTSE 100 started Tuesday morning up, as markets digest fresh figures on unemployment and wage growth, pensions and grocery inflation
FTSE 100 continues rally as markets boosted by relaxing of China’s Covid measures May 30, 2022 London’s FTSE 100 hit its highest level in a month, buoyant by 0.4 per cent, as the relaxing of Covid restrictions in China boosts confidence across international markets. The capital’s premier FTSE 100 index climbed to 7615.82, having closed at 7,585.46 on Friday. British Airways owner International Airlines Group led the charge with a three [...]
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 [...]
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 [...]
Asos outlines plans for lower carbon footprint September 16, 2021 Online fashion retailer Asos has set out plans to minimise its impact on the planet over the next few years. Under its Fashion with Integrity (“FWI”) 2030 programme, the company intends to become a verified net zero emissions business and use more sustainable and recycled materials by 2030. Consumers are increasingly concerned with fast fashion’s [...]