Posts filtered by tags: AB Foods[x]


 

Cut-price apparel retailer Primark predicts that store closures during COVID-19 will cost it $1.4 billion

David Cliff/NurPhoto via Getty Images British fashion giant Primark's sales were down 30% year-on-year in the quarter, its parent company said. More than 75% of its stores are currently closed. Primark's total loss from store closures could reach £1.05 billion ($1.43 billion), it said. Visit Business Insider's homepage for more stories. Store closures could cost British fast-fashion giant Primark £1.05 billion ($1.43 billion) in lost sales, parent company Associated British Foods (AB Food...
Tags: Topshop, Fashion, UK, England, US, Trends, Austria, Fast Fashion, Retail, Debenhams, Boris Johnson, UK retail sales, Primark, Germany Ireland, AB Foods, Lockdown


China's exports jump as Covid-19 restrictions eased, but oil slides - business live

Rolling coverage of the latest economic and financial newsIntroduction: China’s exports up 9.5% last month.......but imports fell againStrong demand for copperOil hit by Saudi price cuts 8.21am BST Shares in AB Foods have jumped 1.7%, after telling shareholders that full-year profits at its Primark division will hit the top end of expectations.The budget clothing chain Primark said its UK market share had increased after customers flocked back to it since it reopened all its stores, with tra...
Tags: Business, UK, England, China, Stock Markets, Netherlands, Ftse, Eurozone, Primark, Associated British Foods, Germany Spain, AB Foods


Primark owner AB Foods omits dividend to save cash in coronavirus crisis

Primark owner Associated British Foods said it would not pay an interim dividend to save cash and could not provide full year 2019-20 earnings guidance for the fashion retailer because of uncertainty caused by the coronavirus crisis.
Tags: Money, businessNews, Primark, Associated British Foods, AB Foods


AB Foods says 'unbelievable' that hard Brexit is on the table

It is "unbelievable" the British government is contemplating leaving the European Union next month without a deal to smooth its exit, the finance chief of Associated British Foods, one of Britain's biggest food producers, said on Monday.
Tags: Money, European Union, businessNews, Britain, Associated British Foods, AB Foods


BHS to close with thousands of job losses

By Paul Sandle LONDON (Reuters) - British department stores group BHS is to be wound down after administrators failed to find a buyer for the 88-year-old chain, threatening over 10,000 jobs and creating huge vacant sites in town centres struggling to cope with changing shopping habits. The failure to find a buyer will likely increase the focus on previous owner, billionaire Philip Green, who sold the chain to a group of little-known investors led by a previous bankrupt called Dominic Chappell fo...
Tags: London, News, Primark, Philip Green, Paul Sandle, AB Foods, Dominic Chappell, Mark Spencer


British retailer BHS to close with thousands of job losses

By Paul Sandle LONDON (Reuters) - British department stores group BHS is to be wound down after administrators failed to find a buyer for the 88-year-old chain, threatening over 10,000 jobs and creating huge vacant sites in town centres struggling to cope with changing shopping habits. The failure to find a buyer will likely increase the focus on previous owner, billionaire Philip Green, who sold the chain to a group of little-known investors led by a previous bankrupt called Dominic Chappell fo...
Tags: London, News, Primark, Philip Green, Paul Sandle, AB Foods, Dominic Chappell, Mark Spencer


UPDATE 2-AB Foods to buy rest of South Africa's Illovo Sugar

JOHANNESBURG, April 8 Associated British Foods , the biggest shareholder in Illovo Sugar, has reached an agreement to buy the rest of the South African sugar producer for 5.6 billion rand after raising an earlier offer. ABF, which holds a 51.35 percent stake in Illovo, has made an offer of 25 rand per share for the stake it does not own, Africa's biggest sugar producer said on Friday.
Tags: Africa, South Africa, Johannesburg, Associated British Foods, ABF, AB Foods, Illovo Sugar, Illovo


Lower Primark sales in warm autumn fail to hit AB Foods’ expectations

Discount clothing store’s overall sales remain higher than a year ago because of the rapid expansion of the chainPrimark has shown it is not immune from the chill blowing through the retail sector after trading was hit by the unseasonably warm autumn.The discount clothing chain, which recently toasted a ”magnificent” year with sales of nearly £5bn and a 29% rise in profits, achieved like-for-like sales below the expectations of Associated British Foods, its owner. Continue reading...
Tags: Business, Retail industry, Fashion industry, Primark, Associated British Foods, AB Foods