All Associated British Foods articles – Page 2
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News
City snapshot: ABF says cost inflation remains significant but volatility diminishing
Ahead of its annual general meeting today, ABF has said its outlooking for the current financial year remains unchanged but that the volatility of input costs has begun to ease
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News
M&S names Jeremy Townsend interim CFO as Eoin Tonge heads to ABF
Tonge is officially stepping down from the board on 9 December, with Townsend taking over. He will report to Machin
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News
ABF to push through further grocery price increases
Associated British Foods is planning further price hikes for its range of grocery brands to manage soaring inflation.
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News
City snapshot: Record high grocery inflation sends shoppers flocking to Aldi and Lidl
Grocery price inflation has hit a new record high resulting in cash-strapped households turning to the discounters and own-label ranges to manage stretched budgets, according to the latest Kantar figures. Plus, annual results from Associated British Foods, a trading update from Hilton Food Group, a Q3 update at Coca-Cola HBC, the latest monthly data on retail sales from BRC-KPMG and consumer spending from Barclaycard, and Britvic is searching for a new CFO.
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News
City News: Associated British Foods issues gloomy forecast as Primark is hit by ‘market volatility’
Associated British Foods became one of the first major consumer multinationals to downgrade profit expectations this week, warning its Primark retail business would be hit by the strength of the US dollar and “significant market volatility”
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News
City snapshot: ABF warns on profits as currencies and economic volatility weigh on Primark
ABF has warned its profits next year will be hit by the strength of the US dollar and ‘signficant market voility affecting costs’, which will hit margins at its Primark retail arm.
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News
Marks & Spencer CFO Eoin Tonge to become ABF finance director
He will succeed John Bason, who will be retiring as ABF’s finance director after more than 20 years at the company
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News
City Snapshot: ABF sales soar on food price increases and Primark reopening
Group revenues at ABF increased 32% to £4bn as all Primark stores reopened following the ending of lockdown restrictions and it hiked prices in its grocery and ingredients divisions. Plus, Deliveroo appoints a new CFO.
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News
City snapshot: ABF ups profit guidance on sugar and Primark outperformance
Associated British Foods has raised its full year profit guidance after the fourth quarter margin performance of Primark and its sugar business beat expectations
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News
City snapshot: ABF grocery sales fall but Primark recovery drives revenue jump
Associated British Foods has reported a 47% jump in third quarter revenues as the re-opening of Primark stores mitigated a modest decline in grocery sales. Plus, Supreme buys SCI-MX, trading updates from PZ Cussons and C&C Group and all the rest of the latest news from the City.
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Comment and Opinion
Textiles 2030: fashion industry pledge is a smart solution with some serious backers
Fast fashion is unlikely to go anywhere. So Wrap was savvy to get the likes of Primark and the supermarkets on board with its latest sustainability initiative
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News
Co-op kicks off own-label bread contract with Jacksons and Warburtons
Jacksons is replacing Allied Bakeries as the Co-op’s own-label bread supplier
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News
City Snapshot: Primark drags back grocery and sugar progress at ABF
Associated British Foods said its grocery, sugar and agriculture businesses will be “materially ahead of expectations” for its first half, but Primark’s coronavirus-drive weakness will reduce overall sales and profits. Elsewhere, Biffa buys food waste retailer Company Shop, Virgin Wines reveals £110m listing details and AB InBev grows fourth quarter sales.
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News
City snapshot: Covid Primark closures cost ABF a further £220m
Associated British Foods has said the tightening of coronavirus restrictions will cost the group an extra £220m on top of the previously announced £430m. Plus, the FTSE starts the year strongly after Brexit deal and all the rest of the latest news from the City.
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Profiles and QandAs
Grocery bosses reflect on food and drink’s response to Covid-19
We asked industry bosses to reflect on the pandemic and the industry’s response. Here’s what they had to say
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News
City snapshot: Second lockdown costs ABF £430m in lost sales
A second wave of coronavirus lockdowns has cost Associated British Foods £430m in lost sales, as Primark stores have closed across Europe. Plus, Pets at Home the latest retailer to pay back business rates relief and all the rest of the latest news from the City.
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News
City snapshot: Primark closures drive ABF sales and profits plunge despite grocery growth
Associated British Foods has posted a double-digit drop in annual sales and profits as the strong performance of its grocery businesses was unable to fully mitigate the closure of its Primark stores during lockdown.
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News
City snapshot: ABF profits boost from rising grocery sales
Associated British Foods has benefitted from a surge in grocery sales during the coronavirus outbreak and better-than-expected trading at Primark in the fourth quarter
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Analysis and Features
What next for Allied Bakeries after losing the Co-op contract?
Allied has now lost its second bakery supply deal in two years. How can it salvage the situation? Is buying Hovis the answer to its prayers?