Currys PLC (LSE:CURY), Tesco PLC (LSE:TSCO) and Kingfisher PLC (LSE:KGF) were among the retailers tipped to benefit from signs that UK consumer spending strengthened in June, while Primark owner Associated British Foods PLC (LSE:ABF) could be one of the main loser as shoppers increasingly bought online. Analysts at Citi said industry data from the British Retail Consortium and Barclaycard point...
Associated British Foods PLC (LSE:ABF) acquisition of Hovis is expected to weigh modestly on earnings in the 2027 financial year before becoming earnings accretive a year later, according to Citi. The investment bank's comments followed completion of the deal after it received clearance from the Competition and Markets Authority.
Associated British Foods backed its guidance across all businesses apart from its sugar unit which it said would post a loss as market conditions deteriorate.
Associated British Foods PLC (LSE:ABF) warned that weaker sugar trading will hit profits this year, while Primark saw mixed sales in the third quarter. The FTSE 100 group said its full-year outlook is "unchanged", expecting adjusted operating profit and adjusted EPS will be below last year, while Sugar is expected to make a larger adjusted operating loss of £25-60 million.
Fashion retailer Primark named Lucy Slinger as its chief financial officer on Thursday, strengthening its leadership team ahead of its split from Associated British Foods.