Hammerson sells Mayfair HQ for £54m September 2, 2014 Hammerson has sold off its last remaining office building as part of a strategy set out two years ago to focus solely on retail property in the UK and France. The FTSE 100-listed company announced yesterday that it had sold its 50 per cent stake in 10 Grosvenor Street in Mayfair to its joint venture [...]
Eurozone fears pull down FTSE to one-year low – London Report October 9, 2014 THE FTSE 100 yesterday hit its lowest level for a year after early gains fell away in a broad-based sell-off as investors became anxious about signs of serious weakening in the Eurozone economy. The blue-chip index, which hit 6,544 points in morning trading, due mainly to a rise in mining shares, ended the day down [...]
Lidl clothing range: Discount retailer challenges British supermarkets on fashion front August 20, 2014 Not content with challenging big British supermarkets on food prices, discount favourite Lidl is taking the stores on in the fashion stakes. The German retailer is about to launch a fashion range for women that includes jeans, shoes and even leather jackets, with a men's range to follow later this year. From August 25th shoppers [...]
Primark profits steal the show at AB Foods November 5, 2013 ASSOCIATED British Foods (ABF) said yesterday that “remarkable” results at its discount clothing chain Primark helped the FTSE 100 giant report a 13 per cent jump in profits. Primark’s adjusted operating profit rose 44 per cent to £514m in the year to 14 September, overtaking the £435m of profits at ABF’s sugar division, which was [...]
Dorset Cereals sold for £50m June 4, 2014 ASSOCIATED British Foods (ABF), owner of high street retailer Primark, has reportedly secured a £50m deal to take over Dorset Cereals. Dorset Cereals is currently owned by Wellness Foods, which also owns Rowse Honey, and according to Sky News the bidding attracted interest from Kellogg and Weetabix. ABF made the deal through its Jordans & [...]
What the other papers say this morning – 09 June 2014 June 9, 2014 FINANCIAL TIMES Swedes hit Juncker’s EU hopes Jean-Claude Juncker’s ambitions to be the next European Commission president have been dealt a further blow after Sweden’s prime minister Fredrik Reinfeldt raised questions about the credibility of the process for filling the top job in Brussels. Russian companies to trade renminbi Russian companies are preparing to switch [...]
Bottom Line: Fashionably late but with a sharp design April 23, 2014 THE clamour of discount shoppers remains as loud around the catwalk as in the supermarket aisles. Look at Primark, where the passion for hot fashion at low prices helped keep a recent dip in sugar prices from souring the results of Associated British Foods, its parent company. While its four per cent like-for-like growth is [...]
Primark profits surge as AB Foods reports strong growth November 5, 2013 Associated British Foods (ABF) has reported adjusted profit before tax of over £1bn, up 13 per cent for the financial year to 14 September. Primark, the retail arm of the group, had a particularly strong year, increasing profit by 44 per cent and added 10 per cent to its estate. (Release) Primark's total sales rose [...]
Primark and Loblaw pay out to factory victims in Bangladesh October 24, 2013 BRITISH clothes retailer Primark and Canadian grocer Loblaw laid out plans yesterday to pay more compensation for the collapse of a Bangladeshi factory that killed almost 1,130 people, as protesters demanded that other brands follow suit. The disaster on 24 April has galvanised most of the clothing industry’s big names to try to improve safety [...]
Apple Pay launches: Why mobile payment is about take off October 21, 2014 Apple Pay, the tech giant's mobile payment service, has launched in the US offering users the ability to pay for items using just their mobile phone. It kicks of the most high-profile launch in the nascent mobile payment space, which could finally push it into the mainstream. A mobile wallet is perhaps the best way [...]