Associated British Foods Plc, the U.K. sugar and ingredient company, said sales and operating margin at its Primark budget fashion chain climbed, increasing the group’s full-year profits even as sugar sales slump.
MADRID, Spain — Discount fashion chain Primark has made its mark in Europe by offering fast-changing fashion at rock-bottom prices. The secret of its success: placing huge orders for top-selling items like socks, tops and jeans and passing on the savings to shoppers.
On Fashion Revolution Day, the anniversary of the Rana Plaza garment factory collapse in Bangladesh, Tamsin Blanchard challenges consumers take action against mindless fashion consumption.
LONDON, United Kingdom — Associated British Foods Plc said its Primark budget fashion chain will open its first stores in the U.S., driving growth at the unit that will help the company post similar annual earnings to 2013.
SAVAR, Bangladesh — Bangladesh began compiling details Monday about the victims of the 2013 Rana Plaza factory collapse as part of a compensation deal, but dozens of people took to the streets demanding a more complete accounting of the disaster.
BERLIN, Germany — British clothes retailer Primark will pay a further $10 million in compensation to victims of the collapse of a Bangladeshi factory last year that killed more than 1,100 people.
STOCKHOLM, Sweden —Hennes & Mauritz, the world's second-biggest fashion retailer, believes there is no conflict between its mission to sell more budget clothes and a drive to improve the environment and working conditions at its suppliers.
MADRID, Spain — The world's largest fashion retailer, Inditex, shows no sign of stalling and investors are betting that its Zara "fast fashion" model has plenty of room to expand in emerging markets by appealing to the growing ranks of brand-conscious middle classes.
DHAKA, Bangladesh — Six months ago, when 1,127 Bangladeshi workers were killed in the collapse of a high-rise warren of garment factories, international outcry led to pledges by western retailers and the government to set up a large-scale inspection regime and a new wage system.
In the wake of Rana Plaza, it’s clear that voluntary self-inspection of garment factories by brands and retailers is not enough to avoid terrible human tragedy. Workplace health and safety standards must be set and enforced by the workers themselves, argues Tansy E Hoskins.
GENEVA, Switzerland — Primark, the budget fashion chain owned by Associated British Foods Plc, will pay all victims of the collapsed Rana Plaza factory in Bangladesh more short-term financial aid after talks today with other brands fell short of a more permanent resolution advocated by unions.
LONDON, United Kingdom — A meeting to determine compensation for victims of two factory disasters in Bangladesh was postponed until September after a union official fell ill, workers threatened to strike in Dhaka and European brands balked at attending over the summer.
LONDON, United Kingdom — NewRiver Retail Ltd. invested in a 24th U.K. shopping center, convinced the property will generate reliable income even in hard times, its chief executive officer said. The real-estate owner’s shares are outpacing competitors.