Associated British Foods PLC

Associated British Foods Plc engages in the business of manufacturing and trading of consumer goods. It operates through the following segments: Grocery, Sugar, Agriculture, Ingredients and Retail. The Grocery segment produces beverages, sweeteners, vegetable oils, bread, baked goods, cereals, herbs and spices, and meat products. The Sugar segment processes and markets sugar beet and sugar cane. The Agriculture segment produces and distributes animal feeds. The Ingredients segment manufactures bakers' yeast, enzymes, lipids, yeast extracts, and bakery ingredients. The Retail segment sells clothes and accessories through the Primark and Penneys retail stores. The company was founded in November 1935 and is headquartered in London, the United Kingdom.

Associated British Foods plc (ASBFY) CEO George Weston on Q4 2020 Results - Earnings Call Transcript

Associated British Foods: Strong Food Demand Mitigates Hampered Primark Performance

The fast-fashion model used by the value retailer is delivering the goods as consumers stay loyal—although city center flagship are not in the best shape.

Primark Promises 14 New Stores Globally Including U.S. As Covid-19 Sales Exceed Expectations

Shares of Associated British Foods (LON: ABF) rose 6% this morning after the owner of Primark said it expects its sales to hit $2 billion after the reopening amid the pandemic. Fundamental analysis: Food sector doing well Primark said its sales figures beat the estimates following the reopening of its stores after the lockdown, however, the sales are still lower than last year.

Primark: ABF share price gains 6% as sales set to hit £2 billion

Associated British Foods said on Monday it expects full-year profit at its Primark fashion chain to be at least at the top end of its previously guided range after trading in its latest quarter exceeded expectations.

Primark's full-year profit seen at top end of guidance after strong trading

Associated British Foods: Temporary Trouble For A Financially Strong Firm

The British government has been committed to incentivising employers into calling their employees back to work after placing them on furlough in recent months due to COVID-19. In an announcement last week, Chancellor Rishi Sunak offered a bonus of £1,000 to the UK-based companies for each worker that they brought back on the payroll.

Primark rejects British government’s bonus for calling furloughed employees back to work

Yesterday, Associated British Foods (ABF) announced a 75% sales decrease for Primark in its third fiscal quarter. The coronavirus has had a significant impact on short-term sales and might accelerate the fashion industry's digital transformation, where competitors are investing more.

Primark Sales Drop 75% While Competitors Try To Speed-Up Their Digital Transformations

Associated British Foods (LON: ABF) said on Thursday that its fashion subsidiary, Primark, has shown robust trading in recent weeks at its reopened stores. The prolonged COVID-19 restrictions, however, are still likely to result in an over 65% decline in the retailer’s annual profit.

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