Amid a general slump in retail sales in Britain between December and early January, Primark, the British low-priced high-street retail chain, managed to record a 7% sales growth during the festive season. Shoppers seemed to have snubbed other higher-priced retailer rivals, opting for the discount fashion brand as brexit-induced price squeezes bit deep into their pockets. Primark owner Associated British Foods Plc is benefiting greatly from Primark’s success, and is poised to further expand the fashion brand’s network of 350 stores, after the opening of five new stores last year.
AB Foods CFO John Bason commented that ‘Of the 20 largest retailers, our market-share growth has been the strongest over the last year’, after Primark showed strong trading figures over the sixteen weeks to January the 6th. The main sales growth drivers were the expansion of retail space and the growth in market share, siphoning off sales growth from rival fashion stores. The discount fashion store’s performance in Europe, though, was mixed, as Primark sales suffered from the unseasonal good weather in October. (Read more)0 Comments 0 Likes 0 ScrapbooksRead More >
Aston Martin has been holding preliminary talks with financial advisers about a potential initial public offering of the British premium automotive brand. The manufacturer is said to be targeting valuation of up to GBP 5 billion, and would naturally choose London to float its shares. The valuation is only a preliminary estimate, and no final decision has been made regarding potential financial advisers. (Read more)0 Comments 0 Likes 0 ScrapbooksRead More >
The year ahead on the stock market is likely to continue in the same way as 2017, characterised mainly by one thing, and one thing only: Brexit. Many, if not all the questions relating to Britain’s future economic and market landscape stem from this issue. Will the government be able to secure that-all important deal with the EU to preserve some kind of access to the single market and begin the trade negotiations proper? Or will it all fall apart and Britain will crash out with no deal? Will this spell the end of Theresa May’s reign and will Jeremy Corbyn climb the stairs into No. 10? How will pound sterling be impacted by all this? Will companies in the City resort to contingency plans and relocate offices to Europe en masse? And, will the stock market index soar as a result of favourable negotiations, or crash out following a breakdown in talks? (Read more)0 Comments 0 Likes 0 ScrapbooksRead More >