Summary
It’s one of the few retailers which doesn’t deliver direct to customers’ homes, now the owner of Primark has announced plans to launch home delivery in England, Scotland and Wales ‘in the future’. Associated British Foods (ABF) has acquired a large, highly automated warehouse for £90m from the Debenham Group to support the plans, as reported by The Independent.
Details
Primark, which has stores in Gloucester and Cheltenham, was very late to the online shopping party, but has grown its click and collect offering in the last couple of years. ABF’s financial year ends on Saturday (September 12) and results are expected to show a 2.6% drop in sales for the value fashion retailer – driven by weaker sales in mainland Europe. UK sales are expected to show a modest 0.6% year-on-year rise.
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The retailer‘s owner said Primark’s sales started strongly in the summer, but slowed due to the hot weather which delayed shoppers buying new clothes for autumn. ABF is gearing up to separate Primark from its food business , which owns companies like Kingsmill, Twinings, Jordans and Hovis, and list it on the FTSE 100 as a standalone entity by the end of 2027.
Report source: Punchline Gloucester
