Primark set to launch its first stores in the US April 23, 2014 ASSOCIATED British Foods (ABF) is taking Primark to the US, the FTSE 100 conglomerate announced yesterday, as it reported a 26 per cent leap in the budget clothing chain’s profits. Primark is set to open a 70,000 square foot store in Boston in 2015 and it is also in talks to open a further eight [...]
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 [...]
Primark buoys AB Foods as sugar continues to sour performance April 23, 2014 Shares in Primark owner Associated British Foods are up over six per cent this morning, after the group announced a six per cent rise in pre-tax profit to £434m in the first half of the financial year, and a 26 per cent jump in Primark's profit. The group called the results “resilient”, despite facing ongoing challenges [...]
LondonMetric signs Primark pre-let April 1, 2014 Property developer LondonMetric has signed a deal to build a huge distribution centre in Northamptonshire for a “top 25 retailer” understood to be Primark. The warehouse on the A16 in Islip will span 1.06m square feet – the size of around 38 football pitches – and has been pre-let to Primark on a 25 year [...]
Lower oil prices hit FTSE after Saudi cuts costs – London Report November 4, 2014 BRITAIN’S top equity index yesterday edged lower, hit by losses in heavily weighted oil and gas stocks after the price of Brent crude slid to its lowest point in four years. Falls in the oil and gas sector stripped 30.6 points off the FTSE 100, which closed down 34 points, or 0.5 per cent, at [...]
Primark’s “excellent” Christmas bolsters AB Foods January 16, 2014 Primark has come in, as expected, as a winner over Christmas – proof that cheaper products can keep value in bricks and mortar. The budget high street store saw "excellent Christmas trading" as consumers continued to flock to its stores. Sales jumped 14 per cent at actual rates (12 per cent at constant rates) [...]
M&S adds sparkle to FTSE after good corporate results – London Report November 5, 2014 BRITAIN’S top share index advanced yesterday, as reassuring corporate reports helped to counteract modest weakness in commodity-related stocks. Ahead of this week’s meetings of the Bank of England and European Central Bank and Friday’s US jobs data, the FTSE 100 finished 1.32 per cent higher at 6539.14 points. Marks & Spencer soared 9.74 per cent [...]
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 [...]
Primark sweetens outlook for AB Foods as sugar disappoints February 24, 2014 Associated British Foods has reported that it expects operating profits for the first half of the year to be in line with that of the previous year. The company expects low profits from sugar to be offset by a stella performance from Primark. Primark enjoyed strong sales in the first half and they are expected [...]
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 [...]