Top story:
Associated British Foods has cut its guidance for Primark’s sales growth in 2025 blaming weak shopper sentiment in the UK.
ABF, which also owns major food brands like Twining, Kingsmill, and Dorset Cereals, said it is now targeting low-single digit growth this year for the retailer. It previously forecast mid-single digit sales growth.
Morgan Stanley and Citi both lowered their ratings on ABF this week due to concerns over Primark’s sales outlook.
ABF’s total revenue grew 0.5% to £6.7bn in the 16 weeks to 4 January with grocery up 0.8% to £1.4bn.
The full story is available here at thegrocer.co.uk.
Morning update:
THG’s sales fell in the fourth quarter of 2024 but the company said it remains on track to meet full-year expectations after the demerger of its Ingenuity technology business.
The owner of fitness supplement brand Myprotein saw revenue for its remaining divisions fall 5% in the quarter with sales in the nutrition division particularly struggling, down by 12.7%.
THG is forecasting mid-single digit revenue growth for the remodelled company in 2025.
The full story is available here at thegrocer.co.uk.
A strong Christmas has helped Chapel Down offset some of its troubles earlier in the year.
The English sparkling winemaker said full-year sales were expected to decline by 5% to £16.3m for year ended 31 December, in line with its previously downgraded guidance.
Strong growth in e-commerce and the on-trade was offset by challenges in the off-trade, where sales dropped 19% to £6.8m. This is an improvement on 36% fall in the off-trade reported by Chapel Down in the first six months of the year.
The full story is available here at thegrocer.co.uk.
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