UK retailer ABF expects Q4 operating profit to exceed expectations

Associated British Foods plc, a British food processing firm that is also engaged in fast fashion retailing through its subsidiary Primark, has announced that the company expects operating profit in the fourth quarter (Q4) for food businesses and Primark to exceed its expectations. Retail sales in the second half (H2) are expected to be around £3.4 billion, according to the UK-based group.

 

Associated British Foods, a British food processing firm that is also engaged in fast fashion retailing through Primark, has announced that the company expects operating profit in fourth quarter (Q4) for food businesses and Primark to exceed its expectations. Retail sales in the second half (H2) are expected to be some £3.4 billion, according to the company.#

“Primark’s operating profit margin in the second half, stated before the charge for repayment of job retention scheme monies, benefited from a significant reduction in store labour costs and lower store operating costs and is expected to be over 10 per cent,” the company said in a statement. “Our forecast for the full year adjusted operating profit, stated before repayment of job retention scheme monies, is now ahead of the profit delivered last year.”

 

Associated British Foods, a British food processing firm that is also engaged in fast fashion retailing through Primark, has announced that the company expects operating profit in fourth quarter (Q4) for food businesses and Primark to exceed its expectations. Retail sales in the second half (H2) are expected to be some £3.4 billion, according to the company.#

According to the company, like-for-like sales in the third quarter were 3 per cent ahead of the comparable period two years ago reflecting the very strong trading in the UK and those European regions where stores had reopened. Customers came back to our stores with enthusiasm and sales reflected some pent-up demand with very high basket sizes.

 

Associated British Foods, a British food processing firm that is also engaged in fast fashion retailing through Primark, has announced that the company expects operating profit in fourth quarter (Q4) for food businesses and Primark to exceed its expectations. Retail sales in the second half (H2) are expected to be some £3.4 billion, according to the company.#

“As we look ahead, digital has a critical role to play as part of Primark’s marketing mix. We are progressing the initial design and development for the new digital platform and recruitment of new talent to create a new digital capability within the business is underway. A new and improved customer-facing website will be launched in the next calendar year,” the company continued. “Improved functionality will allow us to showcase a much larger proportion of the Primark range and to provide customers with range availability by store. We are also strengthening our digital marketing capability to enable us to deliver more personalised content to customers.”