News | Latest Breaking News Stories & Headlines

All of Primark's 376 stores in 12 countries have been closed since March 22, representing a loss of £650m of net sales a month

Primark commits to paying for £370m of orders

Fashion retailer Primark has committed to pay suppliers for £370m of orders, even though all its stores are closed due to the coronavirus pandemic.

Business • 20 Apr 20

Primark will stop placing new orders with suppliers, its parent company said today as the coronavirus outbreak deepens

Primark closes all stores, stops orders with suppliers

Primark is closing all of its stores, a loss of roughly £650m worth of net sales a month, and will stop placing new orders with suppliers, its parent company said today as the coronavirus outbreak deepens.

Business • 23 Mar 20

20% of Primark stores closed around Europe due to coronavirus

AB Foods says 20% of Primark store space closed

Associated British Foods said it has been forced to close 74 Primark fashion stores in continental Europe due to government measures to combat coronavirus, while sales have fallen in those still open.

Business • 16 Mar 20

Primark owner Associated British Foods sources a broad assortment of its products from China

Primark owner warns coronavirus threatens supplies

The owner of Primark, which trades as Penneys here, has warned of a risk of shortages of some clothing lines later this year if delays in factory production in China are prolonged because of the coronavirus.

Business • 24 Feb 20

Primark sales rose by 4.5% for the 16 weeks to January 4

Penneys' parent keeps guidance after solid Christmas

Associated British Foods has kept its full year earnings outlook, partly due to solid revenue growth at its Primark fashion chain in the key Christmas trading period.

Business • 16 Jan 20

Primark generates about half of AB Foods' revenue and profit

AB Foods forecasts earnings growth in 2019-20

Associated British Foods has today kept its forecast for earnings growth in its 2019-20 year with anticipated progress in its sugar and grocery businesses supplementing the further expansion of its Primark fashion chain.

Business • 06 Dec 19

Growth at AB Foods' Primark fashion chain and grocery businesses more than offset lower sugar profits during the year

Primark owner AB Foods' confident outlook boosts shares

Associated British Foods has forecast earnings growth in its new financial year, with anticipated progress in its sugar and grocery businesses supplementing the further expansion of its Primark fashion chain.

Business • 05 Nov 19

Primark, which trades as Penneys here, said it does not have a commercial relationship with Amazon

Primark warns against buying its goods from 3rd parties

Retailer Penneys, which trades as Primark overseas, is warning consumers not to buy its goods from third parties online as they will end up paying more than in store.

Business • 16 Oct 19

Primark opened its first US store in Boston in 2015

Primark considers Central American suppliers

Confident it can crack the $300 billion US clothing and shoes market where many other foreign retailers have failed, Primark is ready to raise its bet on the country by securing new sources of fast fashion in central America.

Business • 23 Sep 19

Primarkaccounts for about half of Associated British Foods' revenue and profits

AB Foods expects reduced Primark margins in 2019-20

Associated British Foods has today warned that profit margins at its Primark fashion business will fall in its new financial year as a weaker pound pushes up import costs.

Business • 09 Sep 19

Primark, which trades as Penneys here, accounts for about half of AB Foods's group revenue and profit.

Primark sales dented by poor May weather - AB Foods

Cold and rainy weather hit sales at Primark in May but the fashion retailer's profit margins are still growing, its parent Associated British Foods said today.

Business • 04 Jul 19

Primark's profit increased 25% in the six months to March 2

Primark cushions AB Foods as sugar earnings dissolve

Associated British Foods has today reported flat first-half earnings, reflecting a near wiping out of profit from its sugar operation that was offset by growth in its other businesses.

Business • 24 Apr 19

AB Foods said that Primark's first-half sales were expected to be up 4% for the full 2018-2019 fiscal year

'Unbelievable' hard Brexit is on table - AB Foods

It is "unbelievable" the British government is contemplating leaving the European Union next month without a deal to smooth its exit, the finance chief of Associated British Foods, said today.

Business • 25 Feb 19

Primark owner AB Foods has reported revenue growth in the Christmas quarter in all of its businesses apart from sugar

Primark owner AB Foods says no-deal Brexit 'reckless'

Leaving the European Union at the end of March without a deal would be "reckless" for Britain, the finance chief of Primark owner Associated British Foods said today.

Business • 17 Jan 19

Associated British Foods owns Primark, which trades as Pennys here

AB Foods to expand Primark in US and eastern Europe

Associated British Foods plans to open more of its Primark stores in the US and eastern Europe after strong growth at the fashion chain boosted full-year group profit.

Business • 06 Nov 18

AB Foods said sales at Primark for the year were expected to be 5.5% ahead of the previous year at constant currency

Primark-owner warns of volatile pound as Brexit nears

Uncertainty over Brexit and its impact on the pound is making it hard to predict the future profitability of Primark, the owner of the discount fashion chain has warned.

Business • 10 Sep 18

AB Foods eyes an increased profit from Primark driven by higher margins

Primark owner AB Foods maintains profit guidance

Associated British Foods warned that lower European Union prices would hit profit in its sugar business, sending shares in the owner of the Primark fashion chain sharply lower today.

Business • 05 Jul 18

Primark opened its first US store in downtown Boston in 2015 and currently trades from eight stores in the US

Trading at AB Foods' new US Primark stores encouraging

The first Primark discount clothes stores in the US are producing encouraging results, but owner Associated British Foods needs to learn more about the market before considering a major roll-out, it said today.

Business • 17 Apr 18

AB Foods said that total first half sales at Primark were forecast to be up 7% at constant currency rates

Primark-owner AB Foods' H1 profit held back by sugar

Associated British Foods said profit margins at its Primark business are set to benefit from the recent weakness of the US dollar versus the pound.

Business • 26 Feb 18

Primark sales were up 7% at constant currency rates in the last quarter

Primark owner AB Foods maintains earnings guidance

Primark owner Associated British Foods has maintained its full-year earnings guidance, reporting quarterly revenue growth in all of its businesses apart from sugar.

Business • 18 Jan 18

Primark's revenues rose 19% to £7.05 billion as the chain continued to expand

Primark growth boosts Associated British Foods

Associated British Foods said its annual profits surged, boosted by growth at its Primark clothing chain and a recovery in its sugar businesses.

Business • 07 Nov 17

Primark owner Associated British Foods has raised its full year outlook

AB Foods raises full-year outlook on strong Primark

Associated British Foods has today raised its forecast for full-year results following a strong performance by bargain fashion retailer Primark.

Business • 11 Sep 17

AB Foods sees a better than expected performance from its Primark chain

Primark owner AB Foods' outlook marginally improves

Associated British Foods said its full-year outlook had marginally improved after a better than expected performance from its Primark clothing chain in the latest quarter.

Business • 06 Jul 17

Primark owner AB Foods said it made an adjusted operating profit of £652m for the six months to March 4

AB Foods profit jump driven by sugar rebound

Associated British Foods' Primark discount fashion retailing arm traded well through the Easter holidays, the group's boss said, countering fears that British consumer demand was fading.

Business • 19 Apr 17

Associated British Foods said that H1 sales at Primark were expected to be 11% ahead of last year

Primark owner AB Foods keeps earnings guidance

Associated British Foods has maintained its full-year earnings guidance, with sales growth at its Primark discount fashion retailer supported by better performances in its sugar, grocery and ingredients businesses.

Business • 27 Feb 17