Primark owner takes £1bn extra inflation hit amid ‘most challenging’ economy for many years November 8, 2022 Primark owner Associated British Foods (ABF) saw inflationary costs leap by £1bn this year alone, as it weathers “highly volatile” economic conditions and hopes to retain shoppers with its low prices. The chairman of the fashion and food business, Michael McLintock, said ABF had “encountered the most challenging economic conditions for many years with sharply [...]
Greggs opens new café in Primark’s Oxford Street store October 26, 2022 Greggs has opened a new café on the top floor of Primark’s flagship Oxford Street store, following the launch of their collaboration earlier this year. The new 110-seater London café will offer a menu of all Greggs’ customer favourites following the success of the first ‘Tasty by Greggs’ eatery in Primark’s Birmingham shop in February. [...]
Lidl joins Sainsbury’s, Tesco and Primark to shut shops for Queen’s funeral September 12, 2022 Top supermarkets and retailers including Lidl, Waitrose and Sainsbury’s are set to shut their UK stores on the day of Queen Elizabeth II’s funeral. Major retailers B&Q and Primark will also close shops for the bank holiday to mark the Queen’s state-funeral next Monday. Some supermarkets are also working on plans to cut some of [...]
Primark profit margins to be hit by high energy costs and shoppers’ budget worries September 8, 2022 Primark owner Associated British Foods said it expects the retailer’s profit margins to take a hit next year due to rising energy costs. In a trading update on Thursday morning, the retailer said it anticipated Primark’s profit margin to be lower than expected as the budget-chain has opted to limit further price hikes. ABF acknowledged [...]
Asda, Boots and Primark among retailers urging officials to prioritise crime against shop staff August 11, 2022 High street staples including Tesco, Aldi and Primark have signed a letter urging police commissioners to prioritise tackling crimes against shop staff. Some 105 retailers have written to police and crime commissioners in England and Wales, calling for more help with increasing violence and anti-social behaviour towards workers. Reports of abuse towards shop staff have [...]
Sausage roll-ing in to town: Greggs and Primark launch new fashion range with ‘snackfest’ tour July 25, 2022 Greggs and Primark are teaming up for a new clothing range, which will be launched on a ‘snackfest’ UK bus tour. The kings of sausage rolls and low cost clothes announced the new range on social media this morning. Gregs and Primark, which collaborated on a similar project earlier in the year, announced the range [...]
Primark owner poaches Marks & Spencer director for top finance job July 21, 2022 Primark owner Associated British Foods has nabbed Marks & Spencer’s CFO Eoin Tonge for its top finance job. Associated British Foods said that its current finance director John Bason will step down from the board, with Tonge stepping into his shoes no later than February 2023. Tonge also holds the position of chief strategy officer [...]
The power of summer: Primark sales inch above pre-pandemic levels June 20, 2022 The owner of Primark has put recovering sales down to the power of summer, tourism and the march back to the office. Associate British Foods (ABF), which owns sugar ad agriculture businesses alongside the budget retailer, said sales over the past six months were four per cent higher than pre-pandemic levels, though they remain around [...]
Primark chief regrets raising prices but says it is ‘a reflection of the scale of inflation we are seeing’ May 31, 2022 Primark executive John Bason said he “regrets” the fashion firm’s decision to raise prices. In April, Primark warned that it will increase prices on its autumn and winter collection as costs go up for businesses around the world. The budget fashion chain said it would make “selective” rises in the range. Bason, who is the [...]
