AB Foods profit to rise but Primark stalls February 28, 2011 Associated British Foods said it expects a rise in half-year operating profits despite a slowdown at its discount fashion retailer Primark and flat profits at its UK sugar operations. The London-based company said Primark’s like-for-like sales will be three per cent ahead while its operating profit margins will be lower reflecting a tax hike in [...]
High Street boosts discounts September 25, 2011 HIGH street retailers stepped up the battle to win over cash-strapped shoppers this weekend by slashing prices and launching promotions, days after Britain’s supermarkets announced fresh price cutting campaigns. Top fashion retailers including Next and Gap launched a two day “flash sale” over the weekend, with items discounted at 50 and 30 per cent respectively [...]
BEST OF THE BROKERS September 19, 2011 ASSOCIATED BRITISH FOODS UBS upgrades the Primark owner to a “buy” and ups its target price on the stock by six per cent to 1200p, to reflect increased estimates. The broker makes no change to its full year guidance for 2011 of flattish earnings, but raises 2012 estimates by three per cent to put earning [...]
BEST OF THE BROKERS September 19, 2011 ASSOCIATED BRITISH FOODS UBS upgrades the Primark owner to a “buy” and ups its target price on the stock by six per cent to 1200p, to reflect increased estimates. The broker makes no change to its full year guidance for 2011 of flattish earnings, but raises 2012 estimates by three per cent to put earning [...]
A week full of stock results: what to watch October 10, 2011 TO say we live in interesting economic times would be an understatement. Confidence is low and money is tight. And retail stocks often show investor nerves more prominently than other markets. But it isn’t all bad news: volatility in the market can serve to make the life of the spread better more exciting. So with [...]
Retail sales fall less than expected September 15, 2011 Retail sales fell slightly less than expected in August, but the underlying trend remained flat, as consumers continued to rein in spending at a time of great economic uncertainty, official data showed. The Office for National Statistics said sales volumes including automotive fuel fell 0.2 per cent last month, slightly better than forecasts for a [...]
Land Securities to start £275m of retail projects July 17, 2011 LAND Securities is close to starting work on a number of shopping development projects worth £275m, despite tough economic conditions still facing the retail sector. Britain’s biggest property company has lined up seven new projects in south-east England and the Midlands for retailers including Tesco and Primark, that together will create more than 1,000 jobs [...]
Land Securities to start £275m of retail projects July 17, 2011 LAND Securities is close to starting work on a number of shopping development projects worth £275m, despite tough economic conditions still facing the retail sector. Britain’s biggest property company has lined up seven new projects in south-east England and the Midlands for retailers including Tesco and Primark, that together will create more than 1,000 jobs [...]
ANALYST VIEWS: HOW WELL IS AB FOODS MANAGING RISING COSTS? July 14, 2011 ANDREW WOOD | BERNSTEIN Slowing results have seen a poor stock performance. While the management update may drive a relief rally that guidance was not reduced, we see little justification for a sustained rally in the stock. GRAHAM JONES | PANMURE We remain bullish about the opportunity for Primark to continue its roll-out in Iberia, [...]
ANALYST VIEWS: HOW WELL IS AB FOODS MANAGING RISING COSTS? July 14, 2011 ANDREW WOOD | BERNSTEIN Slowing results have seen a poor stock performance. While the management update may drive a relief rally that guidance was not reduced, we see little justification for a sustained rally in the stock. GRAHAM JONES | PANMURE We remain bullish about the opportunity for Primark to continue its roll-out in Iberia, [...]