Latest news with #PaulMarchant
Yahoo
4 days ago
- Business
- Yahoo
TrusTrace Releases Sustainability Compliance Playbook
Global supply chain traceability and compliance platform TrusTrace released its new framework to streamline data collection and comply with industry regulations. Playbook: The Data Advantage—A Practical Guide to Building De-risked, Compliant and Future-Ready Supply Chains launched at the Global Fashion Summit in Copenhagen. The playbook introduces the TrusTrace Compliance Canvas, a framework designed to help brands and manufacturers more effectively collaborate on streamlined, standardized supply chain data. TrusTrace worked with brands such as Adidas, Hugo Boss and Primark to gain insights into their processes and needs for data collection and traceability. More from Sourcing Journal TrusTrace's New, AI-Powered Data Hub Gives Insights on Supply Chain Compliance Primark Launches In-Store Repair Workshops in the US Primark CEO Paul Marchant Resigns Following Company Investigation 'At Primark, we've focused on creating clarity for our suppliers by aligning on the data that matters most and building the internal systems and skills to use it well,' said Cari Atkinson, head of product traceability and assurance at Primark. 'Working with TrusTrace has helped us turn complex data requirements into something more manageable for our teams and suppliers.' TrusTrace's playbook is structured around four pillars. The minimum data package of the TrusTrace Compliance Canvas offers a streamlined summary of essential data points for compliance with industry regulations, creating a common foundation for collaboration to reduce the data collection and reporting burden. The second pillar is understanding data requirements, which is a clear breakdown of current and upcoming environmental, social and governance regulations, outlining data needed, why it matters and how to comply. The third pillar, practical insights from industry leaders, includes the input from fashion brands, as well as perspectives from Epic Group, Impetus Group and Karacasu Tekstil, ranging from raw material sourcing to garment finishing. 'This work is going to create a demand for data…and the lack of harmonization across countries means we need a just the [rule of] law,' said Tércio Pinto, head of innovation at Impetus Group. And finally, the executive briefing and future risk outlook includes insights from AAFA, Policy Hub, TrusTrace and the London School of Economics on the growing legal, financial and reputational risks companies face and how robust supply chain data can help mitigate that risk. 'My north star is to get supply chain-related data to the same robustness as financial data,' said Sigrid Buehrle, senior vice president of sustainability and ESG at Adidas. 'That's where we need to get to, with an effective data landscape and a standardized approach to data collection and evaluation.' TrusTrace said that contributing brands and suppliers emphasized the challenges presented by subjective interpretation of regulations coupled with a lack of standardization of methodologies as barriers to effective sustainability and traceability reporting. Through its Compliance Canvas platform, which is enhanced by AI technology, brands and suppliers can standardize how supply chain material traceability data is captured, digitized and shared. 'As data becomes the new cornerstone of compliance and climate readiness, brands need more than intention—they need infrastructure,' said Shameek Ghosh, CEO and co-founder of TrusTrace. 'This playbook outlines what actionable, standardized data collaboration should look like.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Scottish Sun
11-05-2025
- Business
- Scottish Sun
Primark will start charging for shopping essential TOMORROW and shoppers are fuming
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) PRIMARK shoppers have expressed frustration over a major change to the retailer's iconic brown paper bags. Starting Monday, Primark will begin charging customers 15p for its previously free paper bags - in an bid to encourage more sustainable shopping habits. Sign up for Scottish Sun newsletter Sign up 2 Primark will be charging 15p for its paper bags to reduce their usage Credit: Reuters The Facebook group Bag a weekly bargain announced in a post last week: "Unfortunately the days of a free bag from Primark are nearly over. "From May 12th, Primark will be charging 15p each for their paper bags." One shopper responding to the post, writing: "I thought paper bags were supposed to be free as they are recyclable?" Another commented: "I won't shop there anymore, the prices have gone really high and the quality is rubbish. "For a lot of stuff the prices are on par with Next but the quality certainly is not." But not everyone was disappointed, with one shopper commenting: "They break if you have more than 4 items, not even worth the 15p." The retailer announced that the change is part of its efforts to "reduce single-use paper waste" within the business. The statement reads: "Reducing single-use paper is one small step we and our customers can take to reduce waste. "We hope this encourages more shoppers to switch to re-usable bags." A spokesperson for Primark said on Tuesday: "Across our business we use thousands of paper bags every day. I'm a mum-of-12, I've found the perfect Nike dupe sportswear for just £4.50 "While our paper bags are made from 100% recycled and recyclable materials, we're always looking for ways to cut down on single-use waste. "That's why from Monday, May 12, 2025, we'll be introducing a 15p charge on all paper bags, whether small, medium, or large. "It's a simple step that encourages all of us to think twice about our use." Primark recommended that customers bring their own reusable shopping bags when they come to shop in stores. In Wales, a mandatory charge of at least 5p already applies to most single-use carrier bags, including paper bags in stores. This charge was introduced by the Welsh Government in 2011 as part of efforts to reduce the use of disposable bags. It comes as Primark's boss recently quit after an investigation was launched into alleged inappropriate behaviour towards a female member of staff. Paul Marchant stepped down as chief executive of the high-street brand with immediate effect in late March. The Sun learnt that Marchant had a previous complaint against him a few years ago by a Primark employee over "inappropriate communication". It is understood that this is partly the reason why Primark's owner, Associated British Foods, reacted so strongly against the latest complaint. Associated British Foods (ABF), which owns Primark, said Marchant co-operated with the investigation, 'acknowledged his error of judgment and accepts that his actions fell below the standards expected by ABF'. 'He has made an apology to the individual concerned, the ABF Board and also to his Primark colleagues and others connected to the business,' it added. ABF stressed that it will continue to offer support to the individual who brought the incident to its attention.
The Herald Scotland
29-04-2025
- Business
- The Herald Scotland
Primark promises no price hike despite rising costs
"We went nine years without moving prices before inflation forced us to change pricing a couple of years ago, but since then we have brought down the price of kids' clothing," said George Weston, chief executive of Primark owner Associated British Foods. "We haven't moved any more prices and are absolutely not planning to move any more. Hopefully we can keep them flat for another eight or nine years." Read more: He added there had been some benefit from weakness in the US dollar and benign cotton costs, while the company is "choosing to absorb" rising labour costs. Retailers and hospitality providers have been hit particularly hard by the increase in employers' national insurance contributions that came into effect at the beginning of this month, with a number warning of higher prices and job losses as a result. Primark has 187 British stores that generated 46% of sales in the first half of the financial year. Its next largest market is Spain and Portugal, where sales grew by by 18%, followed by France and Italy (up 4%), Northern Europe (up 1%), the US (up 17%) and central and eastern Europe (up 21%). Primark's overall sales grew by 1% to £4.47bn, aided by new store openings abroad. Commenting on the impact of the tariff farrago in its results statement, AB Foods cautioned that several countries could slide into recession as a result of US trade policy. Read more: 'Sentiment is unlikely to improve as markets continue to face uncertainty and instability following recent tariff announcements by the US, retaliatory actions by China and the risk of further tariff trade wars. 'Consumer confidence could deteriorate further as a number of countries, including the US, face the risk of recession that could increase individuals' debt problems.' The search for a successor to former Primark chief executive Paul Marchant is "underway", the company said yesterday. Mr Marchant resigned last month, admitting an "error of judgement", following an allegation by a woman about his behaviour in a social setting. Group revenues at AB Foods, whose food and ingredient brands include well-known favourites such as Kingsmill and Ryvita, dipped by 2% to £9.5 billion with adjusted pre-tax profit falling 10% to £818m as the performance at its sugar division turned sour. "A sharp fall in sugar prices saw the division turn loss-making, with underlying operating profits down more than £140m on last year," said Aarin Chiekrie, equity analyst at Hargreaves Lansdown. "The regulatory picture for its bioethanol plant, Vivergo, is making operations unviable too, and unless current discussions with the UK government are fruitful, ABF could be forced to close the plant, at least temporarily.' AB Foods has cut production at its Vivergo bioethanol plant in London and has threatened to close it unless the government steps in to change regulations. The business made an operating loss in the first six months of the financial year. The conglomerate's diversified business model was a boon during the pandemic and continues to benefit, with the grocery and ingredients divisions doing much of the heavy lifting in the first half of the year while retail and sugar struggled. Even so, analysts at AJ Bell said Primark's underperformance was "worrying" given that warm temperatures should have driven increased footfall into stores. 'They will be looking at whether they are getting the basics right – putting the right product in the right places at the right times and right price points to get people through the tills," analysts said in a note to investors. "It badly needs to arrest a loss of market share. 'Making life more difficult in terms of getting things on track is the recent departure under a cloud of Primark's longstanding CEO Paul Marchant. The chain badly needs someone permanent to provide it with direction for the future.'
RTÉ News
29-04-2025
- Business
- RTÉ News
AB Foods keeps annual guidance for Primark/Penneys unit but cuts sugar outlook
Associated British Foods has today reported a 10% fall in first-half profit, hurt by a loss in its sugar division, sending its shares lower in London trading. The group however kept its guidance for "low single digit" annual growth at its Primark/Penneys clothing unit, driven by new stores in continental Europe and the US, offsetting weaker sales in the UK and Ireland. First half sales at Primark, whose boss Paul Marchant resignedl ast month over inappropriate behaviour, rose 1% to £4.5 billion. "While we continue to assume our trading in the UK remains challenging in H2 2025, there have been some early signs of improvement in recent weeks," the company said. AB Foods said it expected its sugar business to make a full-year adjusted operating loss of up to £40m, reflecting persistent low European sugar prices, a loss at its UK bioethanol business, Vivergo, and challenges in Tanzania and South Africa. It said it was close to completing a review of its Spanish sugar business Azucarera, and it was considering mothballing or closing the Vivergo plant unless there were changes to UK bioethanol regulations. The group maintained guidance for its grocery, ingredients and agriculture businesses. It said adjusted operating profit, its preferred profit measure, was £835m in the six months to March 1, on flat revenue of £9.5 billion on a constant currency basis. Shares in AB Foods fell 8%, wiping out most of the 10% gain recorded so far this year. Primark committed to US expansion despite tariff uncertainty, says boss Meanwhile, Associated British Foods' Primark clothing retail business is committed to expanding in the US despite President Donald Trump's erratic approach to tariffs, its boss said today. Primark's US business accounts for about 5% of the unit's total sales. It currently trades from 29 stores in the US and has signed an additional 18 leases. Trump's stream of tariff announcements, roll-backs and exemptions has left some firms wary of committing to expansion. However, AB Foods chief executive George Weston said Primark was "absolutely" committed to a plan to have 60 US stores by 2026 and remains confident it can succeed in a market that has been a graveyard for some of Britain's biggest retailers, including Marks & Spencer and Tesco. Weston told Reuters in an interview that Primark would take the "(tariff) hits where we have to take them and before we take more substantive actions wait to see where we really are." But he said Primark could benefit from Trump's move to end the "de minimis" duty exemption, which allows shipments worth less than $800 duty-free entry to the US and has helped companies like Shein keep prices low. "De minimis imports in the US are very, very large, they supply a lot of Americans who don't know about Primark yet but are looking for value," he said. "With prices going up from this part of the trade, I wonder if some Americans might start going back to shopping centres to find value there," he added.
BreakingNews.ie
29-04-2025
- Business
- BreakingNews.ie
Weak sugar performance hits share price of Penneys owner
Penneys owner Associated British Foods reported a 10 per cent fall in first-half profit on Tuesday, hurt by a loss in its sugar division, sending its shares down 8 per cent in early trading. The group however kept its guidance for "low single digit" annual growth at its Primark clothing unit, which trades as Penneys in the Republic. Advertisement The predicted growth in Primark will be driven by new stores in continental Europe and the United States, offsetting weaker sales in the UK and Ireland. Sales at Primark, whose boss Paul Marchant resigned last month over inappropriate behaviour, rose 1 per cent to £4.5 billion (€5.3 billion). "While we continue to assume our trading in the UK remains challenging in H2 2025, there have been some early signs of improvement in recent weeks," the company said. AB Foods said it expected its sugar business to make a full-year adjusted operating loss of up to £40 million, reflecting persistent low European sugar prices, a loss at its UK bioethanol business, Vivergo, and challenges in Tanzania and South Africa. Advertisement Ireland Penneys opens first-ever standalone home store Read More It said it was close to completing a review of its Spanish sugar business Azucarera, and it was considering mothballing or closing the Vivergo plant unless there were changes to UK bioethanol regulations. The group maintained guidance for its grocery, ingredients and agriculture businesses. It said adjusted operating profit, its preferred profit measure, was £835 million pounds in the six months to March 1st, on flat revenue of £9.5 billion on a constant currency basis. Shares in AB Foods fell 8 per cent, wiping out most of the 10 per cent gain recorded so far this year.
