Profits and revenue fall at Primark’s parent company Associated British Foods – but will still pay a dividend November 3, 2015 Primark parent company Associated British Foods (ABF) has said it will still pay a dividend, despite falls in both profit and revenue for the year to 12 September. The figures Adjusted operating profit was down six per cent in real terms, or four per cent on a constant currency basis, to £1.09bn, while group revenue [...]
Currency headwinds dampen growth at Primark parent Associated British Foods – but sugar is starting to look sweeter January 14, 2016 Primark parent Associated British Foods has been further buffeted by currency headwinds, with the business expecting it to knock off £25m from full year profit. The figures The group grew revenue three per cent in the 16 weeks to 2 January – but this turned into a two per cent decline when factoring in actual exchange [...]
Sugar sales and weak pound sweeten revenues at Associated British Foods July 7, 2016 Revenue growth at Associated British Foods (ABF) has been sweetened by the retail giant's sugar business and a weakened pound has created favourable trading conditions across the board. The figures Group revenue at the Twinings Tea, Ovaltine and Primark owner was up one per cent year-on-year in the 40 weeks to June 18, the company said [...]
FTSE 100 dips to a six-week low on US rate hike fears September 12, 2016 Shares on the FTSE 100 fell to their lowest since the beginning of August today, as investors showed their nerves over a potential rate hike. After ending last week 1.7 per cent lower than it started, the index was 1.4 lower in mid-afternoon trading, at 6,685 points The fall was led by Primark owner Associated British Foods (ABF), which [...]
Next and Morrisons: What a difference a year makes September 16, 2016 What a difference a year makes. This time in 2015, shares in clothing retailer Next were up after it reported a jump in sales in its first half. Meanwhile, Morrisons warned of a “long recovery” as it made plans to sell its underperforming M Local stores amid falling sales and profits. Yesterday those fortunes reversed: [...]
Marks & Spencer dividend can’t hide fashion disaster as Next and Primark steal market share November 5, 2015 It's that time of year again. The nights are drawing in, the heating’s turned up, minor celebrities are switching on high street Christmas lights… and Marks & Spencer has revealed another disappointing half-year performance. Admittedly, shares rose yesterday – up 2.8 per cent – but this was more due to a modest improvement to margins and a [...]
Primark opens first US store in central Boston September 11, 2015 Retail giant Primark has taken its first step into the US market, with plans to launch a total of eight stores in the region over coming months. The group opened its flagship store in Boston yesterday, having previously opened a distribution centre in Pennsylvania last week. “We have chosen the ideal location for our north [...]
Primark launches in Boston: Will the Irish retailer’s dream become a reality? September 10, 2015 In a bid to turn Primark into a global brand, the company is finally stepping out of its Western Europe comfort zone and making its American debut with its first store launch today (10 September) in Boston. Other leading European brands such as H&M and Topshop entered the US with stores in New York [...]
Seven numbers explaining the demise of BHS July 25, 2016 The demise of BHS has been a long and uncomfortable journey – and today MPs have pointed at Sir Philip Green as the one ultimately responsible for its collapse. BHS ended up in liquidation after no buyer came forward to take on the high street brand as a going concern. 11,000 Administrator Duff & Phelps announced that while it continued to try [...]
Debrett’s Ask the Expert: I only own an ill-fitting, loud suit. Will it cost me a job offer? September 19, 2016 Q: I’ve just graduated from university and I’m applying for training schemes with a few different investment banks. My only suit barely fits me and I haven’t got the cash to buy an expensive new one. Given all the recent press about “brown shoes and loud ties”, I’m afraid I’ll be called out on my [...]