Primark owner AB Foods brushes off cost-of-living concerns with robust quarterly sales
Value retailer Primark appears to have bucked the trend
Company
Associated British Foods PLC
LON:ABF
Associated British Foods is a diversified international food, ingredients and retail group with sales of £10.2 billion and 97,000 employees in 44 countries.
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FTSE 100 ends higher, financials manage to rally; train strike misery to come
At the close, the UK blue-chip index was 105.56 points, or 1.5% higher at 7,121.81, not far below the session peak of 7,129.64 and well above the early session low of 7,016.15
Berkeley, Carnival, DS Smith and AB Foods, inflation and consumer confidence data in diary for coming week
There are also results due from Micro Focus, James Cropper, Liontrust Asset Management, Safestore, Telecom Plus,
AB Foods: Primark margins could be in danger of further cut on Monday
Major retailers including Asos and Halfords issued profit warnings this week as consumer purses continue to tighten
UK food prices to rise 15% this summer and could last more than a year
"From our research, we are unlikely to see the cost of living pressures easing soon," the report said
AB Foods downgraded by Deutsche Bank on 'scant' evidence of trading down benefit
Deutsche Bank said it has more certainty on margin declines and less certainty on sales development
Will Primark protect market share and margins as inflation forces price hikes?
Low price-point retailers like Primark are likely to bear the brunt of rising inflation and the cost-of-living crisis
AB Foods says Primark to raise prices as inflation hits
The group cautioned that inflationary pressures will lead to a greater reduction in margins than previously expected in the second half
Discount retailers like Primark to be hit hardest by inflation, says Deutsche Bank
Deutsche Bank cites home categories as worst placed for inflation
How important is Primark to AB Foods?
Sales are expected to have grown by 60% in Primark compared to last year
AB Foods boosted by improved Primark sales
Inflationary pressures resulted in some price increases in its food businesses
AB Foods launches £400mln debut public bond
"These bonds will diversify the source of funding for the group. They will enhance our liquidity and support the continued investment for growth in our businesses," said AB Foods finance director John Bason
AB Foods revenues jump by a fifth, 400 UK staff cut
400 jobs are going in UK from Primark due to a management restructuring
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FTSE 100 closes lower despite rebound in US stocks
All three US indices are trading higher after a massive sell-off
Primark-to-market – how did ABF perform in peak trading period? Netflix and AJ Bell also due
Will high expectations be dashed by a so-called Omicron squeeze on retail? The high-volume clothes retailer's parent reports on Thursday
AB Foods lifts Primark and other prices due to higher costs
Amid rising COVID-19 cases, the FTSE 100-listed group said its five stores in Austria had been shuttered, trading hours were being restricted in the Netherlands and that vaccine passes were being required in Germany
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FTSE 100 ends lower as UK economic growth stalls
London's blue chips slip as US stocks remain higher midday
Builders and building materials
AB Foods will need to work out new guidance for Britain's Plan B Covid restrictions
UK gross domestic product data will also be released, showing how the economy was bouncing back
Barclays bullish on Associated British Foods eyes ‘three big positives’
The Primark-owner was boosted by a trading update this week.
AB Foods' Primark continues store expansion but is resisting e-commerce really a good idea?
The fast-fashion retailer is opening more stores, improving the existing ones and showcasing more products online, but still won't sell anything on its website