Sunday newspaper round-up: Tesco, Parliament, Jaguar Land Rover
12th Apr 2020 12:53
(Sharecast News) - Property consultant Altus calculates that, of the £11bn in business rates relief granted in England, about £3bn will go to food retailers. A bailout package meant to prop up businesses facing closure is filling the supermarkets' coffers even as they enjoy record sales. Tensions were raised last week when Tesco, the biggest beneficiary, said it would pay a final dividend of £635m for 2019-20, about 15% higher than the City had expected. Chief executive Dave Lewis reminded critics that it related to performance before the virus drove food-buyers to the supermarkets. He also said that measures to keep Tesco running during the crisis would result in extra costs of £650m-£925m. - Sunday Times
Read moreSunday newspaper round-up: Next, Water giants, NMC Health
5th Apr 2020 20:39
(Sharecast News) - Fashion retailers and their suppliers are braced for a massive shake-out of the industry as an estimated £10bn of clothing piles up in warehouses during the coronavirus lockdown. Retail insiders said major firms including Primark, Peacocks, Arcadia and Next had all stopped taking deliveries to their warehouses because they had no more room. Numerous poorer performing retailers, including Debenhams and vintage-inspired retailer Cath Kidston, are on the verge of collapse. - Guardian
Read moreAB Foods CEO, FD take voluntary 50% pay cut
3rd Apr 2020 07:02
(Sharecast News) - Primark owner Associated British Foods said its chief executive and finance director had volunteered to take a 50% pay cut in response to the coronavirus pandemic.
Read moreBroker tips: ABF, Tobacco stocks
24th Mar 2020 22:23
(Sharecast News) - ShoreCap reiterated its 'buy' recommendation for shares of Associated British Foods, hailing its "exceptionally good liquidity".
Read moreShoreCap says ABF well positioned to 'ride out a notable storm'
24th Mar 2020 16:51
(Sharecast News) - ShoreCap reiterated its 'buy' recommendation for shares of Associated British Foods, hailing its "exceptionally good liquidity".
Read moreGovernment may force shops to close - reports
23rd Mar 2020 14:11
(Sharecast News) - The UK is considering closing down non-essential retailers to reduce the spread of Covid-19, according to reports.
Read morePrimark closure to cost £650m a month in lost sales
23rd Mar 2020 07:03
(Sharecast News) - Primark's decision to close its stores will cost £650m a month in lost sales, parent company Associated British Foods said.
Read moreMonday broker round-up
16th Mar 2020 13:18
(Sharecast News) - Weir Group: Morgan Stanley downgrades to equal weight with a target price of 1,350p.
Read moreAB Foods European sales slump on Covid-19 closures, declining footfall
16th Mar 2020 07:16
(Sharecast News) - Primark owner Associated British Foods said it had seen an accelerated decline in sales in its European stores as they were either closed or customers stayed away due to the coronavirus despite an improvement in supplies from China.
Read moreThursday broker round-up
27th Feb 2020 12:47
(Sharecast News) - Restaurant Group: RBC Capital Markets downgrades to sector performer with a target price of 170p.
Read moreWednesday broker round-up
26th Feb 2020 12:48
(Sharecast News) - Associated British Foods: Berenberg downgrades to hold with a target price of 2,700p.
Read moreABF considers stock building to counter Coronavirus risk to supplies
24th Feb 2020 07:02
(Sharecast News) - Primark owner Associated British Foods said it was looking at stepping up production from Asian suppliers as it warned of risks to supplies from China due to the Coronavirus.
Read moreMonday broker round-up
17th Feb 2020 13:05
(Sharecast News) - Hikma Pharmatheuticals: Citigroup downgrades to neutral with a target price of 1,980p.
Read moreIncrease in selling space underpins Primark performance for AB Foods
16th Jan 2020 07:32
(Sharecast News) - Associated British Foods updated the market on its trading for the 16 weeks to 4 January on Thursday, reporting that its outlook was unchanged, with progress expected - on both a reported and an IFRS 16 adjusted basis - in its adjusted earnings per share for the year.
Read moreAssociated British Foods maintains outlook for decent growth
6th Dec 2019 07:34
(Sharecast News) - Associated British Foods reiterated its outlook for the new financial year on Friday, reporting that its AB Sugar division was set to "benefit materially" from the increase in EU sugar prices in the last year, and from further cost reductions.
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