Next’s bad weather forecast casts dark shadow on markets – London Report September 30, 2014 BRITAIN’S top share index slid yesterday, with retailers falling after Next said it would have to lower its full-year profit forecast if the unusually warm weather continued. The FTSE 100 fell 23.88 points, or 0.36 per cent, to 6,622.72 points. Britain’s Number. 2 clothing retailer’s warning sent its shares down 3.79 per cent to 6,605p while [...]
Best of the Brokers for 16 September 2014 September 15, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com ASSOCIATED BRITISH FOODS Numis has upgraded to “hold” from “reduce”, but cut the target price to 2,496p from 2,572p. The broker has slightly reduced forecasts, but still believes positives include the growth record of Primark, a strong balance sheet, and lack of major [...]
Associated British Foods nears deal for first Primark warehouse in the US September 8, 2014 ASSOCIATED British Foods said yesterday its clothing giant Primark was close to striking a deal for a warehouse in the US to support its first foray in the country. 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 nine shops [...]
Even Primark sales aren’t sweet enough to save Associated British Foods from a 4pc share price slump September 8, 2014 Associated British Foods (ABF) went on the offensive in a trading update this morning, saying it expects strong Primark sales to contribute to an increase in adjusted earnings per share for the year ending September 13 – but that wasn't enough to stop shares falling 4.4 per cent in early trading as investors worried about [...]
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 [...]
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 [...]
Warm weather boosts Primark as it buys Pavilions shopping mall July 10, 2014 Associated British Food (ABF) said yesterday that Primark’s acquisition of Pavilions shopping centre in Birmingham to house a four-floor store was “an exception to the rule” as it posted a fresh set of soaring sales. Finance director John Bason said the deal would pave the way for a 150,000 square feet store in around two [...]
Associated British Foods adjusts earnings guidance as Primark profits rise July 10, 2014 Associated British Foods (ABF) has raised its annual earnings guidance after a 22 per cent rise in sales from its budget fashion brand Primark offset the continued weakness of the sugar market. ABF now said it expected its adjusted earnings per share to be above the 98.9 pence paid in 2012-13. Previous guidance had indicated [...]
Primark in talks to buy £60m Birmingham shopping centre June 9, 2014 DISCOUNT fashion retailer Primark is close to sealing a deal to a buy an entire shopping centre in Birmingham for around £60m. The company is in advanced talks to buy the 250,000 square feet Pavilions shopping centre from UBS’s Triton Property Fund, with a deal expected to be confirmed as soon as this week. It [...]
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 [...]