primark news and archive

Primark takes 1.1 billion pound sales hit from closed stores

Primark has taken a 1.1 billion pound sales hit related to lockdowns for the first half of the year, the fast-fashion retailer’s parent company Associated British Foods (AB Foods) announced Thursday. AB Foods said Primark’s performance in the 24 weeks to February 27 was “materially impacted” by lockdown restrictions across the UK and Europe, but...

11 hours ago

People

Primark names Alice Macandrew as corporate affairs director

Primark has appointed Alice Macandrew to the newly-created position of corporate affairs director, effective immediately. In a statement, the retailer said that Macandrew joins with the remit to develop a global corporate affairs team and strategy that will build and protect long-term value in Primark. Macandrew is a highly experienced corporate...

Jan 20, 2021

Management

Primark takes 540 million pound sales hit from lockdowns

Primark has taken a 540 million pound sales hit related to lockdowns, the fast-fashion retailer’s parent company Associated British Foods (AB Foods) announced Thursday. The company said that number could reach 1.05 billion pounds if all of Primark's closed stores remain closed until 27 February 2021, the financial half-year. For the 16 weeks to...

Jan 14, 2021

Management

Primark warns of further 220 million pound sales hit from store closures

Primark’s parent company Associated British Foods (ABF) has warned of a further 220 million pounds it expects to lose from store closures as the UK increases its restrictions amid a new spike of Covid-19 cases. ABF said it now expects to lose 650 million pounds in sales in the year to September, up from the 430 million pounds it announced on 4...

Jan 4, 2021

Report

Primark owner reportedly joins race to buy Arcadia

Associated British Foods, the owner of fast-fashion retailer Primark, has reportedly joined the line-up of potential suitors for Arcadia Group. Arcadia, whose portfolio includes Topshop, Burton and Dorothy Perkins, called in administrators from Deloitte at the end of November after its trading was “severely impacted” by the pandemic. The move...

Dec 14, 2020

Report

Primark takes 430 million pound sales hit from lockdowns

Primark lost an estimated 430 million pounds during the second wave of Covid-19 lockdowns, the fast-fashion giant’s parent company Associated British Foods (AB Foods) announced Friday. But the company said it managed to cut the operating costs of its closed stores by some 25 percent during the second lockdown, and that sales have been “very...

Dec 4, 2020

Retail

Primark to open for 24-hours to cater for demand

Primark is to extend trading hours in all of its stores when England exits lockdown on Wednesday, December 2, with some flagships opening for 24-hours to cater for “anticipated higher customer demand”. Eleven stores including Trafford, Bluewater, Lakeside, Birmingham Fort and White City, will open for 24-hours from 7am on December 2 right...

Nov 30, 2020

Management

Primark annual sales and profits take hit from Covid-19

Primark has reported an annual drop in sales and profits following a tough year of Covid-19-related store closures. For the 52 weeks to 12 September, revenue at the retailer fell 24 percent to 5.89 billion pounds, while its adjusted operating profit plummeted 60 percent to 362 million pounds. The retailer, which doesn’t sell online, has been hit...

Nov 3, 2020

Business

Primark warns of losses due to Covid-19 lockdowns in the UK

Associated British Foods, the owner of fast-fashion retailer Primark, has issued a statement predicting it will lose 375 million pounds due to the coronavirus lockdowns across England and Europe. In light of increasing restrictions on retail trading in countries across Europe, due to Covid-19, Primark states that currently 19 percent of its...

Nov 2, 2020

Retail

Primark joins the UN Fashion Charter

Primark has announced it has joined the United Nations Fashion Charter (UNFCCC) and has pledged to reduce its greenhouse gas emissions by 30 percent by 2030. By joining the UNFCCC, Primark pledges to adhere to the Science-Based Targets Initiative method and to reduce indirect emissions from business activities not owned by the brand that occur...

Oct 29, 2020

Report

Primark appoints trading director for menswear

Primark has appointed Jon Bennett as its new menswear trading director. He joins from Arcadia, where he has worked since 2012, most recently as global sourcing director for Topshop/Topman. Prior to that, he held senior buying positions at River Island, Next and Tesco’s F&F fashion brand. Primark said he will bring “extensive buying, sourcing and...

Oct 8, 2020

Business

The Clean Clothes Campaign launches ‘Pay Your Workers’

The new campaign 'Pay Your Workers' focuses on garment brands and retailers with outsourced production, in particular H&M, Nike and Primark, as these brands have most frequently appeared in reports from workers about the violations of workers' rights during the pandemic. The Clean Clothes Campaign network urges apparel brands and retailers to...

Sep 28, 2020