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Pin to quick picksAB Foods Share News (ABF)

Share Price Information for AB Foods (ABF)

London Stock Exchange
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Share Price: 2,719.00
Bid: 2,714.00
Ask: 2,715.00
Change: 32.00 (1.19%)
Spread: 1.00 (0.037%)
Open: 2,687.00
High: 2,725.00
Low: 2,681.00
Prev. Close: 2,687.00
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UK budget fashion chain Primark to invest 140 mln stg in stores

Fri, 25th Nov 2022 11:33

LONDON, Nov 25 (Reuters) - British fashion chain Primark set out plans to invest 140 million pounds ($169 million) in its UK store estate over the next two years, betting on its rock-bottom prices luring customers as the country grapples with a cost-of-living crisis.

The budget group, part of Associated British Foods, said on Friday the investment will include the opening of at least four new stores and will create at least 850 jobs.

The plan contrasts with other retailers such as Marks & Spencer, who have shut shops due to weak footfall and rising costs, while a shift to online shopping, accelerated by the pandemic, has also hampered store revenues.

"The UK is our biggest market, and as we continue to grow and expand our business internationally, we remain as committed as ever to investing in our stores," Primark Chief Executive Paul Marchant said in a statement.

Even before the pandemic pushed more shoppers online, many high street retailers were struggling due to stiff competition from online-only brands such as Boohoo and ASOS , leading to the collapse of household names like Debenhams.

That saw Primark, which has shunned the extra cost of home delivery, launch a click and collect online service earlier this month.

Primark, which sells shirts for as little as 2.50 pounds ($3.03), has said it will hold prices "to stand by our customers," even as it cautioned that input cost inflation will hit its results in the new financial year.

Exacerbating the pain from rising costs, footfall at UK retail destinations still remains 15% lower on average this year compared with pre-pandemic levels, according to Springboard data.

"Busy towns and cities benefit us all – we want to see thriving high streets and shopping centres," Marchant said.

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25 Apr 2023 10:13

TOP NEWS: AB Foods ups interim dividend as profit climbs, revenue up

(Alliance News) - Associated British Foods PLC on Tuesday reported "very good" retail footfall and a better-than-expected margin at fast-fashion shop chain Primark in the 24 weeks that ended March 4.

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25 Apr 2023 10:10

British Sugar has secured alternate sources of supply but profits will be hit

LONDON, April 25 (Reuters) - Associated British Foods said on Tuesday a UK sugar production shortfall has forced its British Sugar unit to secure costly alternate sources of supply that will significantly impact second half profits at the sugar business.

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25 Apr 2023 09:26

European stocks slide on fresh banking worries

Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at

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25 Apr 2023 09:02

LONDON MARKET OPEN: Stocks down; AB Foods slumps while Whitbread soars

(Alliance News) - Stock prices in London opened lower on Tuesday morning, with Whitbread the best blue-chip performer and Associated British Foods the worst after their half-year results.

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25 Apr 2023 07:01

AB Foods sees flat FY as Primark interims fall on inflation pressures

(Sharecast News) - Shares in Primark owner Associated British Foods fell sharply on Tuesday as the clothing retailer-to-foods group guided for flat annual profits and expressed caution over consumer spending amid the cost of living crisis.

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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30 Mar 2023 11:48

AB Food's Primark to boost pay for 26,000 UK shop workers

(Alliance News) - Associated British Foods PLC's Primark is to hand its roughly 26,000 retail assistants a pay rise from next week.

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30 Mar 2023 10:52

Primark's UK workers to get 12% pay rise

LONDON, March 30 (Reuters) - Primark's 26,000 retail assistants in Britain are to get an inflation-beating average pay rise of 12% from April 1, the fashion retailer said on Thursday.

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