Associated British Foods Share Discussion Threads

[suetballs] 21/4/2020 09:53

Gateside - news on dividend as expected.
But what a well written and comprehensive report.
These guys know how to run a business.
Very happy to hold until better times return - which they will.
Suet

[gateside] 21/4/2020 07:12

Interim dividend cancelled.

[philanderer] 20/4/2020 12:13

Primark has agreed to pay an additional £370m to suppliers to cover stock in production or yet to be delivered after criticism for cancellation of orders during the coronavirus crisis.

The cut price fashion chain, which has been forced to close stores around the world as part of efforts to control the spread of the virus, does not have an online outlet and has joined many rivals in cancelling orders from suppliers as stocks mount up in its warehouses.

The company had previously committed to pay for orders that were in transit or booked for shipment by 18 March. It has now extended that commitment by another month until 17 April bringing the total amount of stock committed to or held to £2bn.

The retailer said it hoped to begin placing future orders for autumn/winter stock once there was further clarification of the reopening of stores.

Guardian

[philanderer] 17/4/2020 09:54

Interims next tuesday will be grim.

[philanderer] 14/4/2020 10:23

Start getting some orders in for masks. These are going to be needed forever now.

[philanderer] 03/4/2020 13:27

Primark's 30,000-strong workforce to be furloughed in a matter of days as retailer's top brass take a pay cut

Executives at Primark owner AB Foods have agreed to take hefty pay cuts

Retailer Primark's workforce in Britain will be furloughed on 5 April

AB Foods has warned that its earnings will be 'much lower' than forecast

[philanderer] 02/4/2020 00:01

Primark's decision to cancel all its suppliers' orders is branded 'unethical' and 'apocalyptic'

[philanderer] 26/3/2020 12:12

The owner of Primark has told U.K. landlords it will withhold rent payments after the country’s coronavirus lockdown prompted store closures.

Property owners need to “come to the table” after the budget fashion chain’s outlets were closed globally, John Bason, finance director of Associated British Foods Plc, said in an interview. The shutdown is causing 650 million pounds ($764 million) in lost revenue a month.

Primark is one of Britain’s most successful retailers, and its request for rent relief shows the extreme levels of distress in the industry as a result of the pandemic.

Bloomberg

[threadworm] 25/3/2020 20:52

Indeed. Some hefty money beginning to move back into this today.....and in volume.

I would think this will push up through 2000p tomorrow. AIMO etc.

[gateside] 25/3/2020 16:43

Nice rise.... Makes up it not rising with the market yesterday.

[tlobs2] 25/3/2020 09:11

I've sold these off this morning. I will be back. Good luck to all holders..... So this rise is down to me :-)

[essentialinvestor] 24/3/2020 17:40

One issue on the ABF statement, they do not appear to provide the detail on
operating costs that some other retailers have.

Look at Greggs statement from yesterday, as one example.

[essentialinvestor] 23/3/2020 16:40

Had a small amount.

[essentialinvestor] 23/3/2020 14:53

The virus could just burn itself out, it's happened before.
A vaccine looks our best hope atm.


In terms of ABF I'm looking to add, thought it may be available lower down.

[suetballs] 23/3/2020 14:48

Essential - sorry to hear that - stay well.
I'm looking for positives too and an eventual exit.
But I admit it could be a while yet.
Suet

[essentialinvestor] 23/3/2020 14:24

suet, I'm stuck in as have asthma, so I'm also looking for any positives.

[suetballs] 23/3/2020 13:04

Today - Germany's infection curve may be flattening. Per their health chief.
Suet

[suetballs] 23/3/2020 11:48

Essential I hear what you say. I'm only looking at trends but on the plus side it does look like we are seeing green shoots in S Korea and China.
Suet

[essentialinvestor] 23/3/2020 11:39

We are barely scratching the surface on cases and can give a quick example.

A friend of mine works in a Surrey hospital where two people died of
coronovirus, he came down with flu like symptoms last week and is self isolating.
Now his girlfriend developed the same symptoms over the weekend.

Neither has been tested, nor have other hospital staff. Any member of staff showing symptoms
is self isolating.

We barely have enough test kits for all patients atm.

[suetballs] 23/3/2020 11:32

tlobs - I am watching the worldometer site closely. The UK appears to be doing very well on number of cases per million of population. And the cases seem to be slowing down in Italy and Spain.OK they're only numbers but hopefully they will herald that things are getting better. China and Korea are good examples of this.
Getting back to abf they have a strong balance sheet and are not a one trick pony and will survive this.
Stay safe.
Suet

[tlobs2] 23/3/2020 09:53

I disagree warranty. The latest facts appear to show the the UK government have done really well so far to control the spread of this flu like virus. I suspect that many had it around Christmas/New Year time (didn't realise it) and came through it.

The latest facts are ....

Latest data (Guardian) the infection rates are as follows (data correct at 008.48 UTC 23 March)

Italy 59,138
Germany 24,873
Spain 29,909
France 16,018
UK 5,683

[warranty] 23/3/2020 07:45

Or at least do without for a number of years philanderer? We haven’t seen the bottom yet nor anywhere near the end of this awful, destructive virus.

[philanderer] 23/3/2020 00:24

Indeed FTSE futures -300pts

Never more obvious now that you should only ever buy shares with money that you can afford to lose.

[suetballs] 22/3/2020 15:28

Yes this will be messy tomorrow.
Suet

[essentialinvestor] 22/3/2020 14:34

FT reporting Primark temporarily closing UK stores due to the coronovirus.