Stock Spotlight: Pandemic pain does not shake Primark's commitment to bricks and mortar retail

Aims to increase stores 33% in five years

James Baxter-Derrington
clock • 4 min read
Stock Spotlight: Pandemic pain does not shake Primark's commitment to bricks and mortar retail

Despite losing more than a third of its trading days to pandemic-related lockdown restrictions, Primark owner Associated British Foods has doubled down on its commitment to bricks and mortar and continues to shun the commonly accepted knowledge that an e-commerce offering is essential to the survival of a high street retailer.

Like-for-like sales were down 12% on pre-pandemic levels, according to ABF's 2021 annual results, but a strong recovery in the second half of the year has boosted the firm's profits to £415m, up 15% on...

To continue reading this article...

Join Investment week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space

  • Get ahead of regulatory and technological changes affecting fund management

  • Important and breaking news stories selected by the editors delivered straight to your inbox each day

  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts

  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Companies

Asset managers continue to campaign on executive pay
ESG

Asset managers commit to executive pay engagement following LGIM's decision to end feedback

Prioritisation is important

clock 03 December 2021 • 4 min read
Gerard Callahan of Baillie Gifford

Square Mile removes ratings of BMO and Baillie Gifford funds

The BMO Navigator Multi-Manager Range of funds and the Baillie Gifford UK Equity Alpha fund have had their ratings removed by Square Mile Investment Consulting and Research (Square Mile) in its latest ratings round-up.

clock 03 December 2021 • 2 min read
Stock Spotlight: Games Workshop still a good play

Stock Spotlight: Games Workshop still a good play

IP spat affected value

James Baxter-Derrington
clock 03 December 2021 • 4 min read
Trustpilot