Primark Sales Grew By 15% During Holiday Season

According to the latest sales data updated yesterday by Associated British Foods PLC (ABF.L), the British parity clothing retailer Primark grew 15% over the first 16 weeks of fiscal year 2015, a year-on-year increase from the fixed exchange rate, representing an improvement of 11% over the 9 mid December to the end of November last year, indicating that it was "strong" during the holiday season, mainly driven by the new sales area. According to the actual exchange rate, Primark sales increased by 12%. UK, Ireland, Spain and Portugal all recorded same store sales growth, but the same store. Sale The performance was dragged down by Holland and Germany, and the group did not disclose specific data on same store sales.

Due to increased exchange rate shocks and discounts, the Primark operating profit margins were oppressed, down from the same period last year, but still in line with group expectations.

As of January 3, 2015, Primark There are 287 stores in the United Kingdom and Europe, which were stationed at the end of 2013. France The market has already developed 5 stores, and its sales performance is "excellent", but the sharp growth in Nordic Europe is offset by the strong trend of sterling.

Associated British Foods PLC (ABF.L) revealed that Primark's plan to enter the United States is in an orderly manner. The group has rented a warehouse in Pennsylvania, and the US management team is building smoothly. Primark 2015 will take the lead in landing in the northeast of the United States at the end of the year. Now it has signed eight stores, of which seven are located in Sears Holdings Corp. (NASDAQ:SHLD) of the US Department store.

Associated British Foods PLC (ABF.L) increased 3% over the first 16 weeks of the fixed exchange rate, up 1% from the real exchange rate. The Group expects that the adjusted operating profit will shrink throughout the year, but the impact on net profit will be neutralized by lower tax rates and interest rates.

Associated British Foods PLC (ABF.L) rose 1.71% to 3087 pence in midday on Thursday.

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The new finance minister George Osborne's new deal is forcing HM Revenue and Customs, the Royal tax and customs administration, to conduct a thorough investigation of British businesses in the past year, with emphasis on tax avoidance and worker treatment. In Britain, the minimum hourly wage for a 21 year old worker is 6.5. According to HMRC, the company failed to meet the requirement.

British employment relations minister Jo Swinson, such as the H&M group's violation of the minimum wage standard is illegal. Once the employer violates this regulation, the government has the right to take tough measures to impose penalties, public humiliation and help workers pay for their employers.

The British Independent newspaper said that the British government imposed a slight fine on employers, which failed to achieve the desired results. For example, a fine is a fine of only 1400 pounds for employers who violate wage standards, which is nothing to do with money in terms of the H&M profit of 600 million pounds a year.

However, the British government is discussing the improvement of fines and trying to promote the small business bill. The fine will be fined according to the number of injured employees. Each person will be fined 20000 pounds, and there may be no definite conclusion on the measures taken by rogue employers to impose an illegal fine of 3 million -1220 per unit.