Tag Archives: Reseller (Legacy)

British owners Primark warned that sales closed at 1.1 billion pounds | Instant News


FILE PHOTOS: Signs displayed outside the Primark store on Oxford Street, in London, England July 2, 2020. REUTERS / Hannah McKay

LONDON (Reuters) – Associated British Foods warned on Thursday that it is expected to lose 1.1 billion pounds ($ 1.6 billion) of sales from the lockdown of its stores in fast fashion chain Primark in the first half of its financial year.

The group said it expects Primark sales in the first half to February 27 to be around 2.2 billion pounds and an adjusted operating profit slightly above break-even.

Due to restrictions imposed on Primark in the UK and across Europe, Primark expects sales, adjusted operating profit and adjusted earnings per share for the group as a whole to be lower than last year.

But the group said it was looking forward to reopening Primark stores and by Thursday a possible reopening date for 233 stores in addition to the 77 stores already open. About 83% of its retail space will be traded on April 26.

“We expect the period after reopening to be very money-making,” he said.

AB Foods also has a wholesale division, whose brands include Kingsmill bread and Twinings tea, as well as its sugar, agricultural and key ingredients businesses.

It expects revenue and profit in all of these units to be ahead of expectations and in the first half of last year.

AB Foods shares closed Wednesday at 2,437 pence, valuing the business at 19.3 billion pounds.

($ 1 = 0.7064 pounds)

Reporting by James Davey; Edited by Kate Holton

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Woolworths Australia warned of slowing sales growth after a surge in first-half profit | Instant News


FILE PHOTOS: People walk past Woolworths supermarkets following easing of restrictions put in place to curb the spread of the coronavirus disease (COVID-19) in Sydney, Australia, 16 June 2020. REUTERS / Loren Elliott

(Reuters) – The Woolworths Group on Wednesday warned of slowing sales growth ahead after a pandemic-driven surge in demand helped Australia’s biggest supermarket chain post a 28% jump in first-half profit.

The launch of the COVID-19 vaccine and easing restrictions will likely weigh on retailers, who have benefited from customers hoarding household items during the lockdown.

“We expect sales to fall over the period March to June compared to the previous year across all of our businesses … as we cycled the COVID surge last year,” said Group Chief Executive Brad Banducci.

Earlier this month, smaller rival Coles Group had also forecast a “significant” moderation in supermarket sales.

Woolworths, which operates more than 3,000 shops in the country, said the separation of its beverage and hospitality business, Endeavor Group, was expected to be completed in June.

Profit attributable to continuing operations was A $ 1.14 billion ($ 901.63 million), compared with A $ 887 million a year ago.

The company declared an interim dividend of 53 Australian cents per share, up from 46 cents a year earlier.

($ 1 = 1.2644 Australian dollars)

Reporting by Shriya Ramakrishnan and Shruti Sonal in Bengaluru; Edited by Arun Koyyur

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Brazilian retailer B2W and study Lojas Americanas combined operations | Instant News


RIO DE JANEIRO (Reuters) – Brazilian retailer Lojas Americanas SA and B2W e-commerce firm Cia Digital SA are considering merging their operations, the companies said in separate securities filings on Friday.

Lojas Americanas already controls B2W with a 62.5% stake, but has a smaller market cap, 41.6 billion reais at Friday’s market close, while B2W closes at 46.6 billion reais ($ 8.66 billion).

The two companies have for months announced steps to create so-called omnichannel experiences, which allow customers to take advantage of the B2W e-commerce platform and Lojas Americanas’ physical presence simultaneously.

Together, the companies have 1,700 physical stores in 750 cities in Brazil, as well as an online marketplace with more than 87,000 vendors. The companies say that a combined operation can create a strong advertising operation.

A committee will be appointed to study the specifics of the combination and give options to the boards of the two companies, the filing said.

The company did not say when the study would be completed.

($ 1 = 5.38 reais)

Reporting by Gram Slattery in Rio de Janeiro and Aluísio Alves in Sao Paulo; Edited by Chris Reese and Cynthia Osterman

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Brazilian retailer B2W and study Lojas Americanas combined operations | Instant News


RIO DE JANEIRO, Feb. 19 (Reuters) – Brazilian retailer Lojas Americanas SA and B2W e-commerce firm Cia Digital SA are considering merging their operations, the companies said in separate securities filings on Friday.

Lojas Americanas already controls B2W with 62.5% shares. In the filing, the company said a potential merger was being considered due to changes in consumer behavior.

A committee will be appointed to study the specifics of the combination and give options to the boards of the two companies, the filing said. (Reporting by Gram Slattery in Rio de Janeiro, Editing by Chris Reese)

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Australian retail sales rose 0.6% in January, curbs on COVID becoming a drag | Instant News


SYDNEY, February 19 (Reuters) – Australian retail sales rose less than expected in January as the coronavirus lockdown in the city of Brisbane kept buyers at home, continuing a sales pattern seen in recent months.

Sales rose 0.6% in January, from December, missing market expectations for a 2.0% increase, preliminary data from the Australian Bureau of Statistics (ABS) showed on Friday.

But sales of A $ 30.54 billion ($ 23.73 billion) were still up a strong 10.7% in January last year, before the pandemic hit.

The state of Queensland saw a 1.5% drop as the COVID-19 restrictions in Brisbane hit retail for household goods, clothing, footwear and department stores.

Retail activity has been volatile in recent months amid lockdowns and hugely popular online sales events, with spending surging 7.1% in November to just 4.1% dropping in December.

The pandemic has also confounded the usual patterns of seasonal adjustment and excessive movement in both directions.

ABS will release its final estimate on March 4 ($ 1 = Australian dollar 1.2872) (Reported by Wayne Cole Editing by Shri Navaratnam)

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