AB Foods' Primark Is Taking Market Share With Improved Offering -- Market Talk

Dow Jones04-23

1038 GMT - AB Foods' first half was impressive, with strength across all areas and Primark particularly delivering a stunning performance, suggesting its value offering is resonating with cost-conscious consumers, AJ Bell investment director Russ Mould writes in a note. AB Foods' retail arm could have found the middle ground between its "Primarni" past--designer-inspired clothes at cheap prices--and providing better quality apparel at still affordable prices, therefore taking market share from rivals, Mould notes. "The company's strong balance sheet and diversified model...put the [it] in an enviable position to both reward shareholders and invest in further expansion in the business," Mould says. Shares are up 9.4%, leading the FTSE 100 risers. (michael.susin@wsj.com)

(END) Dow Jones Newswires

April 23, 2024 06:38 ET (10:38 GMT)

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AB Foods' retail arm could have found the middle ground between its \"Primarni\" past--designer-inspired clothes at cheap prices--and providing better quality apparel at still affordable prices, therefore taking market share from rivals, Mould notes. \"The company's strong balance sheet and diversified model...put the [it] in an enviable position to both reward shareholders and invest in further expansion in the business,\" Mould says. Shares are up 9.4%, leading the FTSE 100 risers. 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