What you need to know before the open February 24, 2014 European markets are expected marginally lower this morning, following Asian counterparts, which were left unsatisfied by the G20’s commitment of an extra $2 trillion in output over the next five years. The UK market posted its third successive gain last week, but things in the rest of Europe and the US weren’t as positive, following [...]
Best of the Brokers for 21 January 2014 January 20, 2014 AB FOODS UBS has given Associated British Foods a buy rating and lifted its price target to 2,890p, based on a stellar performance from Primark. UBS said the low-priced “fast fashion” chain was being rolled out throughout Europe and its first French store opening was one of its best to date. RENTOKIL Peel Hunt has [...]
Bottom Line: Hot competition in retail revolution November 5, 2013 PRIMARK doesn’t sell food, but if it did, it’s unlikely the range would compete with Marks & Spencer. Unfortunately for the 129-year-old high-street stalwart, its younger rival does sell clothes – a lot of them. Yesterday’s contrasting results from the two retailers were a stark reminder of just how much the British high street has [...]
Primark is wise to remain offline April 26, 2013 SO many retailers have been trumpeting their online success in recent weeks – with the internet now more profitable than the high street for Debenhams, and John Lewis’ annual website sales topping £1bn – that it’s something of a surprise to be presented with old-fashioned bricks and mortar success. But that’s what Primark delivered yesterday, [...]
UK retail sales increase at strongest rate since February 2010 in December January 17, 2014 Christmas was a pretty mixed bag for some retailers, but figures from the Office for National Statistics suggest that the squeeze on consumers is easing, and they were able to make the most of bargain and discount shopping. December retail sales jumped 5.3 per cent from a year earlier, up 2.6 per cent in the [...]
London Report: Retailers reveal where tills rang for Christmas January 12, 2014 RETAILERS are expected to reveal where UK shoppers showed their Christmas cheer, with a round of results in contrast to last week’s gloomy December tidings. Figures out this week from retailers such as Argos, Asos, Dixons, Ocado and Primark are expected to show increased sales. The successes are in contrast to the sales dips seen [...]
UK food giant ABF is mulling Tilda takeover November 26, 2013 ASSOCIATED British Foods (ABF) was reported yesterday to be mulling a bid to take over rice producer Tilda for £250m. The British food giant, which already owns Primark and Twinings, is said to be interested in the popular rice brand, according to Sky News. The Thakrar family, which owns Tilda, are contemplating a sale, and [...]
Dutch software maker for top UK firms taken private for €1bn November 18, 2013 THE PRIVATE equity backer of UK sofa store DFS yesterday agreed to take a Dutch software provider for businesses like EDF Energy and Lloyds Bank private for about €1.2bn. Advent International, which also owns share service Equiniti, has agreed to buy listed firm Unit4 at €38.75 a share, giving shareholders a 55 per cent premium [...]
Analyst Views: How has AB Foods’ update impacted your outlook for the year? September 9, 2013 MARTIN DEBOO | INVESTEC“This year is set to beat expectations on a strong finish from Primark…But in the other major profit centre of sugars the outlook in 2014 and beyond is downbeat, with EU sugar prices falling fast and further pricing pressures elsewhere …We expect to be upgrading our 2013 numbers a tad but downgrading [...]
Primark boosts AB Foods outlook February 25, 2013 ASSOCIATED British Foods forecast higher results this year than last, driven by an “outstanding” performance from subsidiary Primark. Adjusted operating profit will be higher than last year, while earnings per share for the first half will be “substantially” ahead of last year, AB Foods said this morning in a trading update. Primark sales in the [...]