Associated British Foods

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Primark places GBP1bn in new orders as stores reopen Michelle Russell | 2 Jul 20

Primark is pressing ahead with new store openings and is placing GBP1bn (US$1.25bn) worth of orders for the autumn/winter season after reporting an "encouraging" start to post-lockdown trading.

Retailers begin to outline store reopening plans – Update just-style | 16 Jun 20

Debenhams, Brooks Brothers, and J.Crew Group are among the latest apparel brands and retailers to outline reopening plans after stores and online operations were closed temporarily worldwide as part of efforts to help limit the spread of the coronavirus (Covid-19) outbreak.

Markdowns not part of the plan as Primark to reopen in UK Beth Wright | 1 Jun 20

Primark-owner Associated British Foods (ABF) says the value fashion retailer has begun placing "substantial" orders for autumn/winter stock and will seek to avoid markdowns on excess inventory as it prepares to reopen stores in England on 15 June.

Global retail staff and salary reductions amid Covid-19 – Update just-style | 1 May 20

As the impact of the coronavirus pandemic spreads across the apparel and footwear industry, brands and retailers are moving from store closures to worker lay-offs or furloughs, as well as executive pay cuts. Here are the latest:

Primark owner takes GBP284m unsold stock hit Beth Wright | 21 Apr 20

Primark-owner, Associated British Foods (ABF) has written down the value of its clothing stock by GBP284m (US$349.3m) as the fashion retailer has gone from making sales of GBP650m each month to nothing following the closure of all stores in March amid the Covid-19 pandemic.

Primark extends supplier support by GBP370m Michelle Russell | 20 Apr 20

Value fashion retailer Primark has extended support to its suppliers by committing to pay for GBP370m (US$461m) worth of additional orders, over and above the GBP1.5bn of stock already in stores, depots and in transit.

Global retail closures as coronavirus spreads – Update just-style | 15 Apr 20

A raft of apparel and footwear brands and retailers including Next Plc, Primark, H&M, Nike and Gap Inc, are temporarily closing stores and suspending online operations as part of efforts to help limit the spread of the coronavirus (Covid-19) outbreak. 

Primark to pay wages at factories of cancelled orders Beth Wright | 3 Apr 20

UK value fashion retailer Primark has set up a fund to cover the wages component of orders that it cancelled in Bangladesh, Cambodia, India, Myanmar, Pakistan, Sri Lanka and Vietnam because of the coronavirus pandemic.

Primark sounds warning over H1 sales on Covid-19 fallout Hannah Abdulla | 16 Mar 20

Primark-owner, Associated British Foods (ABF) has sounded a warning on its half-year sales as traffic in its stores slows with the impact of the coronavirus outbreak intensifying.

Coronavirus could risk supply shortages at Primark Beth Wright | 24 Feb 20

The owner of value fashion retailer Primark has warned that prolonged delays to factory production in China increase the risk of supply shortages on some lines later in its financial year.

Store growth continues to drive Primark sales Beth Wright | 16 Jan 20

Value fashion giant Primark has again credited the continued expansion of its store portfolio both at home and abroad for a rise in first-quarter sales but cited a "marginal" decline in UK like-for-like sales during the period.

Low-price focus drives profitable 50th year for Primark Beth Wright | 5 Nov 19

Value fashion giant Primark has marked its 50th year of trading with better buying and favourable exchange rates helping to deliver an 8% increase in profit.

Primark mulls Central America suppliers in US foray Hannah Abdulla | 24 Sep 19

Value fashion retailer Primark has confirmed plans it is planning to grow its presence in the US and that it will look at closer locations to source from for the US market.

Store growth helps drive Primark FY sales rise Beth Wright | 9 Sep 19

Full-year sales at Primark are expected to rise 4%, helped by increased selling space, but the value fashion retailer has also warned it expects a reduced margin next year.

Store growth boosts Primark sales Beth Wright | 4 Jul 19

The expansion of its store portfolio both at home and abroad has helped UK value clothing retailer Primark to higher sales in the first ten months of the year.

Investors press brands for more workforce transparency Beth Wright | 3 Jul 19

A coalition of more than 120 institutional investors with combined assets of more than US$14 trillion is renewing its demand for companies across the world to come forward with better data on their staff and supply chain workers, with the aim improving the quality of jobs globally. 

Primark delivers 25% jump in interim profit Beth Wright | 24 Apr 19

Value fashion retailer Primark has booked a 25% jump in first-half operating profit thanks to the addition of new selling space and improved margins, which were driven not only by favourable exchange rates but also by better buying.

Increased selling space boosts Primark H1 sales Beth Wright | 25 Feb 19

Value fashion retailer Primark has sounded an optimistic note for the first half of the financial year as a 0.3m sq ft increase in selling space is expected to drive revenue in the period.

Primark Q1 sales jump as Christmas surpasses expectations Beth Wright | 17 Jan 19

Increased retail selling space and better than expected sales over the Christmas trading period helped drive a 4% sales rise at Primark in the first quarter, with the value fashion retailer significantly increasing its share of the total UK clothing market in the period.

UK expected to drive Primark FY sales rise Beth Wright | 10 Sep 18

Primark's full-year sales are expected to rise 5.5% on last year, as a strong profit performance from the value fashion retailer helps parent company Associated British Foods Plc (ABF) maintain its full-year guidance. 

Warm weather knocks Primark H1 sales Beth Wright | 26 Feb 18

Unseasonably warm weather last autumn is expected to have taken its toll on like-for-like sales at Primark in the first half of the financial year, but the value fashion retailer remains optimistic of a jump in profit growth for the second half.

Why Primark is working to do "the right thing" – Interview Michelle Russell | 31 Oct 17

Unlike many other major apparel firms, value fashion chain Primark chooses not to openly set targets for its sustainability and ethical commitments, but instead "just get on and do it," as Katharine Stewart, Primark's director of ethical trade, tells just-style. Yet in recent years the retailer has started to open up about its work to engage more closely with its supply chain: in particular, turning its focus to ensuring all the cotton in its products is sourced sustainably.

Primark FY sales tipped for double-digit rise Beth Wright | 11 Sep 17

Primark full-year sales are expected to rise 13% on last year, as the value fashion retailer has helped to boost parent company Associated British Foods Plc (ABF) full year outlook.

Primark H1 trading boosted by expansion Michelle Russell | 19 Apr 17

Value clothing retailer Primark has increased earnings in its first-half thanks to higher sales, particularly in the UK, and a "substantial" increase in selling space.

Primark Q1 sales climb on network expansion Michelle Russell | 12 Jan 17

Primark saw sales climb in its first-quarter thanks to increased selling space, but the value fashion giant warned of falling margins as a result of impending inflationary pressures.

Primark says no plans to hike clothing prices Michelle Russell | 9 Nov 16

Value fashion giant Primark says it has no plans to increase prices next year as the industry considers the potential impact of inflation, the falling value of sterling, and a "hard Brexit" on business and the consumer.

Currency and costs weigh on mixed H1 for Primark Katie Smith | 19 Apr 16

A drop in first-half profit at UK value fashion retailer Primark reflects its investment to expand into the US as well as an increasingly bearish environment for clothing retailers. 

Primark performs well in H1 as sales grow Michelle Russell | 23 Feb 15

Primark was the key growth driver for Associated British Foods (ABF) in the first half, as sales at the value fashion giant grew and retail selling space increased.

Primark latest to blame weather for sales Michelle Russell | 8 Dec 14

Value fashion retailer Primark has achieved like-for-like sales below the expectations of its parent company, as unusually warmer weather hurt revenues.

Primark inks US lease deal with Sears Holdings Katie Smith | 20 Oct 14

UK value fashion retailer Primark has inked a deal with Sears Holdings which will see it lease space in seven stores in the US, a move that could be a sign of things to come.




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