Primark
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Half a billion pound lockdown blow for Primark – What the analysts say
The forced store closures as a result of the current lockdown have left Primark estimating a GBP540m (US$737m) loss of sales for the 16 weeks to 2 January. If stores remain closed into February, the retailer warns of a potential loss of sales amounting to GBP1.05bn. Despite this, Primark is continuing with its store opening programme. Analysts offer mixed thoughts on the trading update.
Primark warns of GBP1bn sales hit amid store closures
Value clothing retailer Primark has warned of a hit from lost retail sales of more than GBP1bn (US$) due to the pandemic lockdown as it revealed revenues were 30% lower than last year.
Primark expects GBP650m sales hit on lockdown restrictions
Primark-owner Associated British Foods (ABF) has warned of a greater loss of sales resulting from the forced closure of stores across the UK and Republic of Ireland as more regions were plunged into Tier 4 last week.
Primark faces GBP430m sales hit from recent lockdowns
Value fashion retailer Primark expects to have lost GBP430m (US$578.6m) in sales during the recent lockdown across the UK – but says all orders placed with its suppliers have been honoured.
UK government aid to support fashion supply chains
The UK Government has launched a new programme to strengthen global supply chains by supporting workers in developing countries during the coronavirus pandemic in a move that is estimated to benefit nearly 120,000 people working in the global garment industry.
Major brands linked to "union-busting" factories
A number of factories producing garments for several major apparel brands have been accused of exploiting the coronavirus pandemic as an opportunity to sack workers affiliated to unions.
Primark to pay for all outstanding finished goods and fabric
Primark is to pay its suppliers in full for all outstanding finished goods and to utilise or pay for any finished fabric liabilities incurred before it closed all its stores in mid-March amid the Covid-19 pandemic.
Primark rolls out in-store textile recycling scheme
Value fashion retailer Primark is rolling out a nationwide clothing, textiles and footwear recycling scheme in a bid to divert more from landfill.
Primark places GBP1bn in new orders as stores reopen
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
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.
Primark reopening likely to be marred by cautious consumers
The reopening of Primark stores in the UK will be met with consumer caution in the long-term, as more than 60% of shoppers in the country are buying less clothing, new figures from data and analytics firm GlobalData show.
Markdowns not part of the plan as Primark to reopen in UK
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
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:
How brands are tracking labour and safety violations
Seven years after the deadly Rana Plaza factory building collapse in Bangladesh, research suggests that while there has been progress in factory safety, there have also been deteriorations in labour rights and the abuse of female ready-made garment (RMG) factory workers. Here we explore how brands and retailers can ensure workers in factories overseas are being treated fairly – and how predictive analytics can help manage social and labour compliance.
Primark owner takes GBP284m unsold stock hit
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
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
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
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 cancels all orders as UK stores close
UK value fashion retailer Primark has cancelled all orders with its suppliers and closed all of its stores – including the 189 it operates in the UK – as countries around the world go into lockdown to try to halt the spread of coronavirus.
Primark sounds warning over H1 sales on Covid-19 fallout
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.
Primark in vegan fashion product certification first
Retailer Primark has become the first company in the world to receive the Vegan Certification mark from German inspection services group TÜV Rheinland for fashion products.
Coronavirus could risk supply shortages at Primark
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
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
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 warns customers over online products
Value fashion giant Primark has warned its customers not to buy its products online after it emerged some of the retailer’s items were being sold on Amazon at inflated prices.
Primark mulls Central America suppliers in US foray
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
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.
Primark expands sustainable cotton scheme to China
Value fashion chain Primark is preparing for a five-fold increase in the number of farmers enrolled in its Sustainable Cotton Programme by the end of 2022, including expanding the initiative to China for the first time.
Primark probe suspends several Bangladesh factories
Primark has confirmed it is suspending sourcing with several of its supplier factories in Bangladesh following allegations that workers' contracts were terminated unfairly
Store growth boosts Primark sales
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.
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