By Michael Susin Associated British Foods on Tuesday raised its fiscal 2023 guidance on the back of improved sales growth across its categories. The U.K..
Tesco tops the FTSE 100 risers at the close and other UK retailers also gain after Barclays reportedly upgraded the UK grocer. The bank increased its target.
By Jack Denton Order Reprints Print Article
The owner of retail giant Primark estimates that the loss of sales from store closures caused by the Covid-19 pandemic will cost the company £1.05 billion ($1.43 billion), as it moves to expand further into the U.S. market. Primark operates 11 stores in the U.S., mostly on the East Coast.
Shares in Associated British Foods, which owns Primark, rose 1% in London trading, as it reported results for its grocery, sugar, agriculture, and ingredients businesses that outpaced expectations.
The.
Close
Store Closures Due to Covid-19 Will Cost This Retailer $1.4 Billion. It Still Won’t Move Online.