Family businesses see sales hike August 17, 2011 THE economy may be weighed down by high inflation and unemployment but family owned businesses appear to be weathering the storm. The top 10 family owned firms all increased their sales in the last year. Total sales for the UK’s biggest family-owned businesses rose 10.2 per cent to £35.5bn, driven by a strong performance from the [...]
Primark fuels AB Foods sales rise January 20, 2011 Primark-owner Associated British Foods reported a ten per cent rise in first-quarter sales led by its discount fashion retailer and saw further growth ahead despite the effect of higher commodity costs. The London-based group, which markets Silver Spoon sugar, Twining tea and Ovaltine drinks, said on Thursday its 214 Primark store chain had traded well [...]
WESTFIELD AT STRATFORD: OUR PICK OF THE SHOPS September 13, 2011 CLOTHES & ACCESSORIES ASPINAL OF LONDON The second standalone shop for this affordable heritage brand, Aspinal has a plum position at the start of the Street, and is a wonderfully windowy space, glinting with cufflinks, jewels and charms and full of its signature bright croc skin bags and wallets. FOREVER 21 There were nearly 400 [...]
M&S margins in squeeze July 10, 2011 MARKS & SPENCER gives a first quarter trading update this week, with analysts predicting pressure on margins after the retailer launched its earliest ever summer sale. Chief executive Marc Bolland is overhauling the retailer with a plan aimed at improving web sales and bringing in hundreds of new food lines. Keith Bowman at Hargreaves Lansdown [...]
BEST OF THE BROKERS July 6, 2011 ASSOCIATED BRITISH FOODS Deutsche Bank rates the food-to-fashion conglomerate as a “hold” and raises its target price from 950p to 1,050p, seeing extremely favourable dynamics in European sugar as likely to keep prices high and generate a major windfall for the group. The broker upgrades its 2011-12 earnings per share forecast by £70m or around [...]
FTSE steadied by Greek breakthrough July 21, 2011 The FTSE 100 started solidly this morning as it emerged that France and Germany had reached an agreement on a second bailout for Greece. Banks led the way as investors gained confidence in stocks recently buffeted by fears of exposure to the debt crisis which has engulfed the Eurozone. Leaders of the 16-country bloc will [...]
AB Foods hit as costs take toll on profit April 27, 2011 PRIMARK owner AB Foods yesterday saw its shares tumble as it warned that its full-year profit would be dented by soaring costs. The company said it expected full-year profits to be similar to those last year, as it announced its half-year results. It had previously expected annual earnings to rise. Profit for the six months [...]
New Look profit slumps 40pc after prices rise June 8, 2011 Fashion retailer New Look has admitted its performance over the past year was “disappointing” as it reported a 40 per cent slump in profits. The privately-owned retailer said group like for like sales fell 5.5 per cent over the year – and 7.1 per cent in the UK – after price rises for its budget [...]
New Look profit slumps 40pc after prices rise June 8, 2011 Fashion retailer New Look has admitted its performance over the past year was “disappointing” as it reported a 40 per cent slump in profits. The privately-owned retailer said group like for like sales fell 5.5 per cent over the year – and 7.1 per cent in the UK – after price rises for its budget [...]
Primark warns over rising cotton prices November 9, 2010 Primark owner Associated British Foods warned the sharp hike in cotton prices will hit margins at its discount fashion chain as it beat forecasts with a 25 per cent rise in full-year earnings. Chief executive George Weston said that Primark will not surrender its price leadership status in clothing and will take a hit to [...]