Primark owner upgrades profit outlook as inflation fuels jump in sales revenue

Posted on June 26, 2023 by Admin

Associated British Foods says group sales rose by 16% with Primark saying rises supported by steeper prices

The owner of Primark and food brands including Twinings has upgraded its profit forecast for this year as sales revenue jumped thanks to inflation-fuelled price increases and as shoppers bought summer clothes.

Associated British Foods, which also owns brands including Ovaltine as well as a sugar business, said that group sales rose by 16% to £4.7bn in the three months to 27 May. Sales at Primark were up by 13% to nearly £2bn.

Primark enjoys bumper festive UK sales thanks to heels and baggy suits

Posted on January 24, 2023 by Admin

Owner ABF says its grocery brands such as Twinings and Kingsmill also increased trading

Strong sales of heels, baggy suits and knitwear propelled Primark’s sales ahead of expectations over Christmas as shoppers returned to city centres and consumer spending was more resilient than anticipated.

Sales at the cut-price fashion chain’s established stores rose by 11% in the four months to 17 January, compared with the same period a year before, as the owner, Associated British Foods (ABF), said it had sold more items of clothing while prices had also risen by about 8%.

Primark to trial UK click and collect in move into online sales

Posted on June 20, 2022 by Admin

Customers will be able to order from about 2,000 items online, including children’s clothes

Primark will trial a click-and-collect service in the UK, in the budget fashion chain’s first significant move into online shopping.

The high street retailer will launch the trial at 25 stores in the north-west of England by the end of the year, but said it would only cover children’s clothing and accessories, as the company – owned by Associated British Foods (ABF) – tries to draw more families into its stores.

‘Wage theft’ in Primark, Nike and H&M supply chain – report

Posted on July 2, 2021 by Admin

No laws were broken but brands failed to ensure workers were paid properly during the pandemic, says Clean Clothes Campaign

Campaigners claim to have found evidence of “wage theft” in the supply chains of Primark, Nike and H&M in a report that outlines the devastating consequences of the pandemic on garment workers in Indonesia, Cambodia and Bangladesh.

Research by the Clean Clothes Campaign found that, while none of the brands had broken any laws, they had failed to ensure that their workers were properly paid throughout the pandemic.