Primark results: ABF investors to see if digital push paid off September 11, 2023 Primark owner ABF is set to publish its full year update tomorrow, with investors keen to see if the budget favourite will continue to impress.
Retail shares may rise as profit upgrades boost investor confidence August 21, 2023 Retail shares could shoot up over the coming months despite recessionary headwinds, reports from City analysts suggest. Analysts at Peel Hunt said the market was “undervalued,” following a season of profit downgrades issued by major UK retailers that sent investor conference sinking. Many retailers were hit hard by red-hot inflation which led consumers to be [...]
Tesco first retailer to cover VAT on period pants following industry led campaign August 20, 2023 Tesco has become the first retailer to cover the cost of VAT on its range of period pants, in the latest push from retailers to government to place the absorbent underwear in the same category as menstrual products so it can be exempt from the tax. On Monday, the ‘Big Four’ grocer will introduce a [...]
Primark owner ABF thanks sunny spells, digital push and inflation for 13 per cent sales hike June 26, 2023 Primark owner Associated British Foods (ABF), has credited warm weather and a revamp of the affordable fashion brands website for a 13 per cent rise in sales – hiking its share price 0.61 per cent when markets opened this morning. The retail giant which also brand such as Twinings, said like for like sales grew [...]
FTSE 100 close: Markets close lower as housebuilders weigh on index June 7, 2023 Strong morning bumps for Primark-owner Associated British Foods and BT were offset by a slump for housebuilders today as the FTSE 100 closed marginally lower. A slump in trading for housebuilders kept movement on London’s flagship index subdued, with the index closing lower. Housebuilders were down after figures from Halifax showed a first annual fall [...]
Primark owner buys up milk records-keeper in near-£50m deal June 6, 2023 Primark-owner ABF has bought National Milk Records, a key part of the milk industry, as it strengthens its agri-food business
FTSE 100 close: Persimmon and Standard Chartered peg losses on London index April 26, 2023 London’s FTSE 100 skidded lower today despite a decent batch of results pumping up banks and house builders. The capital’s premier index lost 0.49 per cent to close at 7,852.63 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, edged 0.04 per cent lower to [...]
FTSE 100 close: London ends down ahead of Google and Microsoft results as Primark owner slumps April 25, 2023 London’s FTSE 100 was dragged lower today as investors fretted over the state of a batch of big tech results on Wall Street rolling in over the coming days. The capital’s premier index shed 0.27 per cent to drop to 7,891.13 points, while the domestically-focus mid-cap FTSE 250 index, which is more aligned with the [...]
Primark owner claims fast fashion still a draw as cost of living crisis boosts sales April 25, 2023 Primark owner Associated British Foods (ABF) has reported a slight dip in its adjusted operating profit as the retail and grocery giant felt the pain of soaring inflation and a tough economic climate. For the 24 weeks to 4 March, the group’s adjusted operating profit came in three per cent lower at £684m, compared to [...]
Only five UK retailers issued profit warnings in first leg of 2023, but experts warn of challenges April 24, 2023 Only five UK retailers raised concerns about their profits in the first leg of 2023. However, the sector has warned that challenges remain for shops and the high street. According to data by accountancy firm EY, the number of profit warnings issued by retailers fell by 44 per cent in quarter one compared to the [...]