THE RETAIL BULLETIN - The home of retail news
HOME
Department Stores
Electricals
Entertainment
Fashion
Food & Drink
General Merchandise
Health & Beauty
Home & DIY
Interviews
Newsletter
Property
Shopping Centres & Retail Parks
Sports & Leisure
The Papers
RETAIL INSIGHTS
RETAIL SOLUTIONS
• The HR Summit 2019
• AI in Retail Conference 2019
• Omnichannel Futures Conference 2020
• Future of Customer Engagement 2020
ABOUT
CONTACT
SUBSCRIBE FOR FREE
Primark trading ‘challenging’ in November

Primark owner Associated British Foods has said that its profit expectations remain unchanged despite challenging trading at the fashion chain in November. In a statement ahead… View Article

FASHION

Primark trading ‘challenging’ in November

Primark owner Associated British Foods has said that its profit expectations remain unchanged despite challenging trading at the fashion chain in November.

In a statement ahead of its AGM today, the company said its chairman Michael McLintock will say: “At this early stage in our new financial year, sales and profit for the first eight weeks of trading for the group were in line with expectations. However, during November Primark trading was challenging, in a tough retail market, but with careful inventory management and improved margins, our expectation for the increase in Primark profit is unchanged.”

ABF said Primark’s selling space expansion will continue and that it expects an increase in retail profit for the year.

Speaking about its grocery business, ABF said it anticipates seeing an improvement in profit from a margin increase in its Australian and UK businesses and a full year contribution from Acetum. However, profit from its sugar business will be“significantly lower” following the full year effect of EU sugar prices.

It also highlighted the potential effect of a volatile sterling during Brexit negotiations.

ABF added: “Taking all of these factors into account, at this early stage, we still expect adjusted earnings per share for the group for this financial year to be in line with the 2018 financial year.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

The HR Summit 2019
The HR Summit 2019
8 October 2019
Hallam Conference Centre, London W1W 6JJ
Company values, collaboration with employees and driving a major HR transformation to create a truly omnichannel experience, need to be at the heart of the organisation's culture and brand
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, London W1G 9DT
SENIOR-LEVEL FORUM FOR HEADS OF MARKETING, DIGITAL, ECOMMERCE AND CX
Omnichannel Futures Conference 2020
Omnichannel Futures Conference 2020
5 February 2020
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Future of Customer Engagement 2020
Future of Customer Engagement 2020
10 June 2020
Cavendish Conference Centre, London W1G 9DT
The 11th Annual Retail Customer Engagement Conference