Primark

Primark trading ‘stronger than expected’ post-lockdown

Associated British Foods (ABF) has announced that Primark’s trading in the fourth quarter has “exceeded expectations” ahead of its full-year results, which are set to be announced on 3 November.   Primark stores reopened over the course of May, June and July, and have since “traded strongly”, according to its parent…

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Reopening retail: Four ways to embrace creativity, safely

Reopening retail; four ways to embrace creativity, safely Meredith O’Shaughnessy, Creative Brand and Retail Strategist at Meredith Collective Coronavirus has been the final reckoning for great swathes of retail, and it’s been brutal. Some high street stalwarts (Warehouse, Oasis, Accessorise) won’t open their doors again. Others are tentatively reopening but…

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Why a multi-skilled retail team is essential for optimal efficiency

Retail is a people business. And while the rise of online shopping has increased the role of technology, it has arguably made the colleague interactions that do happen even more important. The mantra for retailers of “right people, right place, right time” has never mattered more. A historical retail resourcing…

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Primark welcomes ‘encouraging’ trade after sales slump

Primark sales plunged by 75% to £582m in its third quarter of trading, while its year-to-date sales fell by 27% to £4.3bn.  Its parent company, Associated British Foods (ABF), now estimates that its adjusted operating profit will fall between £300m and 350m for the full year, compared to the £913m…

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How e-commerce can maintain business continuity in the face of Covid-19

Covid-19 and the government stay-at-home and shutdown orders have wreaked havoc on the retail industry. Footfall was down 44.7% in March. High street stores without ecommerce operations saw sales collapse. Primark, for instance, saw its monthly sales of £650m a month evaporate. And whilst ecommerce retailers have the advantage of…

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Primark outlines 15 June reopening

Primark has detailed its plans to reopen its UK estate, following the recent government announcement that non-essential retail may resume on 15 June.  It comes as the clothing retailer started reopening its stores across Europe, after European governments began to ease restrictions for retailers following a global lockdown.  Whilst the…

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Lockdown to persist says Johnson, clergy weigh in on behaviour of corona-corporations

The PM is back at his desk and says the lockdown must continue for the foreseeable future, and it would be premature to consider lifting now. After having been struck down with COVID-19 himself – and ending up in intensive care – the premier has finally convalesced and spoke from…

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Covid-19: Primark to suffer £284m stock hit

Associated British Foods (ABF) has revealed that Primark will take a £284m hit in stock following store closures amid the ongoing pandemic.  ABF said the prediction was made following a “careful review” of its inventory, and added that the retailer had fully paid for and taken delivery of “very large…

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Primark execs take 50% pay cut

Primark bosses have revealed that they will slash their pay in half  in light of the ongoing coronavirus crisis. George Weston, chief executive of parent group Associated British Foods, and finance director John Bason have both requested that their base pay be reduced by 50% on a temporary basis.  Paul…

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JD Sports to withhold quarterly rent amid Covid-19 lockdown

Sports fashion retailer JD Sports has announced it is withholding its quarterly rent in bid to mitigate the effects of the UK lockdown. According to The Guardian, JD Sports has not paid the rent due for its 390 stores, and is reportedly in discussions with the next bill due in…

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