ABF.L - Associated British Foods plc

LSE - LSE Delayed price. Currency in GBp
2,497.00
-8.00 (-0.32%)
At close: 4:36PM GMT
Stock chart is not supported by your current browser
Previous close2,505.00
Open2,509.00
Bid2,505.00 x 0
Ask2,506.00 x 0
Day's range2,491.00 - 2,529.00
52-week range2,011.00 - 2,601.34
Volume951,918
Avg. volume1,156,880
Market cap19.768B
Beta (3Y monthly)0.44
PE ratio (TTM)22.48
EPS (TTM)111.10
Earnings date5 Nov 2019
Forward dividend & yield0.46 (1.88%)
Ex-dividend date2019-12-12
1y target est2,786.87
  • Forget gold! I’d invest £1k today in these 2 FTSE 100 shares to retire wealthy
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  • Why the Associated British Foods share price (LON:ABF) could go higher
    Stockopedia

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  • Was Associated British Foods plc's (LON:ABF) Earnings Decline Part Of A Broader Industry Downturn?
    Simply Wall St.

    Was Associated British Foods plc's (LON:ABF) Earnings Decline Part Of A Broader Industry Downturn?

    Today I will examine Associated British Foods plc's (LSE:ABF) latest earnings update (14 September 2019) and compare...

  • Boycott Black Friday and Save the World
    Bloomberg

    Boycott Black Friday and Save the World

    (Bloomberg Opinion) -- On London’s Oxford Street last weekend, you could almost forget we were in the midst of a retail apocalypse. Christmas lights and a slew of special offers marking an ever earlier start to the imported bargain frenzy, Black Friday, brought out the crowds. Similar holiday cheer and promotions have spread elsewhere in Europe too.But European retailers face a new worry:  shoppers deliberately staying away in order to safeguard the planet.Conspicuously skipping consumption is a long-term threat. But when it comes to Black Friday, the more shoppers who shun it the better.For European stores, introducing the crazy U.S. holiday shopping tradition has been an act of self-harm. If protests persuade stores to cut back on this margin-destroying activity, both the planet and profitability would benefit.To recap: Black Friday first reared its ugly head in the U.K. around the start of the decade when local chains responded to Amazon.com Inc.’s unleashing of post-Thanksgiving discounts onto the British public. The trend hit continental Europe later, but French and German have retailers have stepped up their participation over the past few years.As the phenomenon grew, so did resistance, with, for example, International Buy Nothing Day urging us to switch off from shopping. But this year the anti-consumerism movement is gaining traction.In France, where retailers are bracing for a Dec. 5 nationwide strike that may last longer, youth activists are joining with Extinction Rebellion to protest at shopping malls and elsewhere on Friday in an action called BlockFriday. Ecology Minister Elisabeth Borne has weighed in, warning people about the pollution generated by Black Friday between all of the extra delivery runs and packaging. “We can’t at the same time call for a reduction in greenhouse gases and call for a consumer frenzy like that,” she said. There’s even a proposal by lawmakers to ban Black Friday promotions altogether.In Lyon, ethical-clothing specialist WeDressFair will for the second year close its store and website on Friday. Instead, customers can bring in their ripped jeans and shirts with missing buttons to be mended. They will also learn now to make more eco-friendly washing powder.These different initiatives underline the increasing focus on shopping’s impact on the environment.The chief executive officer of Hennes & Mauritz AB, which has been seeking to make its clothing more sustainable since the 1990s, recently warned of the threat of consumer shaming. Associated British Foods Plc’s Primark has been struggling in Germany, in part because some consumers there believe because it’s cheap, it’s got to be bad for the environment. To address the growing concerns about fast fashion, the chain has introduced clothing recycling stations in its stores and increased its use of sustainable cotton.ABF CEO George Weston has also argued that it is greener to shop in physical stores than it is to buy online. That’s significant because Black Friday is still primarily a web-based phenomenon. Determining which is greener is not straightforward. There is some academic evidence to suggest that shopping online is actually more sustainable. But that is not always the case. When a whole range of factors are taken into account, including returns, ultra-fast delivery, subscription programs that encourage repeat purchases, collecting parcels by car and showrooming — where customers travel to stores to evaluate products before ordering — the picture is far less clear cut.Whether it’s for environmental or commercial reasons, any break on the event is welcome. Deloitte estimates that the average discount in the U.K. this November is about 27%, similar to last year, although deals started earlier. Retailers may win some incremental sales, but given the difficult market conditions, that’s not guaranteed. So, unless they are offering products that would have gone into the January sale anyway, or items specially made to be sold cheaply on Black Friday, this level of reduction means  they will be sacrificing margin.Some store groups that previously embraced Black Friday have now rowed back, led by Asda, the U.K. arm of Walmart Inc. Wm Morrison Supermarkets Plc is also getting less involved. Others, such as the electronics chains AO World Plc and Dixons Carphone Plc, plan promotions with suppliers months in advance.This year, the effect of Black Friday will be particularly pernicious. Falling after payday and kicking off the main spending weeks in the run up to the holiday, it will be difficult for retailers that offer discounts to return to full price. Add in Brexit uncertainty in the U.K. and the upcoming strikes in France, and it increases the potential for a highly promotional period.More conscious consumers are too late to prevent Black Friday from taking place in 2019. But if they force retailers to come to their senses in future, it won’t just be the environment that wins.To contact the author of this story: Andrea Felsted at afelsted@bloomberg.netTo contact the editor responsible for this story: Melissa Pozsgay at mpozsgay@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

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  • Reuters - UK Focus

    UPDATE 2-M&S poaches Tesco executive for top clothing job

    British retailer Marks & Spencer has appointed the chief executive of rival Tesco's F&F Clothing division to be the boss of its struggling clothing and home business, it said on Friday. M&S, one of the best known names in British retail, said Richard Price, 52, would re-join the group as managing director, clothing & home next year.

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  • I think this could be the FTSE 100’s best Brexit-proof stock
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  • The Associated British Foods share price – where next?
    Stockopedia

    The Associated British Foods share price – where next?

    The Associated British Foods (LON:ABF) share price has risen by 7.66% over the past month and it’s currently trading at 2380p. For investors considering whethe8230;

  • Reuters - UK Focus

    LIVE MARKETS-Value in banks?

    * US futures gain on trade deal optimism Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Could it be that the case for value has been driving European banks' stocks for the past three sessions? The banking sector is facing plenty of structural headwinds with ROEs struggling to grow but this doesn't seem to matter to the market today: European banks are up 1% and at their highest levels since May.

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  • Primark owner AB Foods' confident outlook boosts shares
    Reuters

    Primark owner AB Foods' confident outlook boosts shares

    Associated British Foods forecast earnings growth in its new financial year on Tuesday, with anticipated progress in its sugar and grocery businesses supplementing the further expansion of its Primark fashion chain. Analysts at Shore Capital said they expected to upgrade their forecasts. The main swing factor in the AB Food's performance in the 2019-2020 year is likely to be sugar.

  • Reuters - UK Focus

    UPDATE 2-Primark owner, oil majors push FTSE higher

    Gains for oil majors and miners pushed London's FTSE 100 into the black on Tuesday, buoyed by hopes of a trade deal between the United States and China, while Primark owner Associated British Foods jumped 6% after strong results. The FTSE 100 advanced 0.3%, after having touched a one-month high earlier in the session, while the mid-cap index was 0.2% higher.

  • Reuters - UK Focus

    UPDATE 2-European shares hit more than 4-year peak on trade hopes

    European shares hit more than four-year highs on Tuesday, edging closer to record highs, driven by a rally in energy and commodity-linked stocks as U.S.-China trade-related optimism boosted risk appetite. China is pushing U.S. President Donald Trump to remove more tariffs as part of a "phase one" trade deal, which may be signed this month - a first step to ending a 16-month long trade war. Mining companies rose 1.7%, extending gains for a third session, while rising oil prices bolstered a rally in energy stocks.

  • Primark owner warns pound's decline over Brexit will hit its margins
    Yahoo Finance UK

    Primark owner warns pound's decline over Brexit will hit its margins

    Profits slid 5% at Primark owner Associated British Foods, which has vowed not to raise prices despite Brexit raising its costs.

  • Reuters - UK Focus

    UPDATE 2-Primark owner AB Foods' confident outlook boosts shares

    Associated British Foods forecast earnings growth in its new financial year on Tuesday, with anticipated progress in its sugar and grocery businesses supplementing the further expansion of its Primark fashion chain.

  • Investing.com

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  • Reuters - UK Focus

    UPDATE 2-Reckitt hires Ahold's Carr to take over as CFO in 2020

    Reckitt Benckiser named Ahold Delhaize finance chief Jeff Carr as successor to Adrian Hennah, who is retiring as CFO of the British consumer goods company next year. The maker of Durex condoms and Lysol disinfectant said on Monday that Carr, who has been finance chief at Dutch-American supermarket operator Ahold since 2011, would bring "extensive experience across consumer and retail companies". The appointment of Carr, who worked for Reckitt between 1994 and 2004, is its second big management change this year after replacing long-time chief executive Rakesh Kapoor with PepsiCo executive Laxman Narasimhan as CEO.

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  • U.K. Shoppers Will Win This Christmas
    Bloomberg

    U.K. Shoppers Will Win This Christmas

    (Bloomberg Opinion) -- British retailers begging Santa for a Brexit deal for Christmas may be getting what they asked for.The crucial holiday shopping period, which accounts for a large proportion of their annual profit, is always nail-biting for store chains. This year, it is inextricably linked to Britain’s departure from the European Union.With a Brexit divorce deal in hand, fears of a no-deal split have receded. Crashing out on Oct. 31 would have been disastrous. By contrast, a deal – assuming it gets through the U.K. parliament – has the potential to bring a feel-good factor for retailers. It could unleash some pent up demand, particularly for big ticket items, such as fitted kitchens and sofas. Consumers have held back from splurging on such things, even though wage growth has been outpacing inflation. Demand has already picked up this month, thanks largely to colder weather compared with a year ago. That may bode well.But, there’s still plenty of uncertainly that could weigh down the festivities, including the possibility of the current deal collapsing, a referendum to confirm it or a general election being hastily called. For the past couple of years, consumers’ anxiety over Brexit hasn’t been at a constant level. It has ebbed and flowed with the sense of crisis in government.In September, the volatility was so extreme that some retailers could even predict their sales based on that day’s headlines. The collapse of Thomas Cook, another jolt to the consumer sector, didn’t help either. Any election campaigning on crucial shopping days would be equally distracting, particularly for affluent Britons fearful of a Labour government led by Jeremy Corbyn. But all year the British high street has been battling cautious consumers, as well as the rise of online shopping. Even internet-based retailer Asos Plc has been hurt by nimbler rivals.Whatever happens with Brexit, the prime holiday shopping period will fall late. Christmas is on a Wednesday this year, providing a full extra weekend in December to shop ahead of the holiday.Black Friday, the crazy U.S. shopping tradition that’s taken the world by storm, is at the end of November, a week later than in 2018. Over the past five years, the price-slashing event has sucked forward about 2 billion pounds ($2.6 billion) of spending from December into November, according to Richard Hyman, the independent retail analyst. It is always hard for stores that have discounted over the Black Friday weekend to return to full price for Christmas. This year’s timing makes it virtually impossible. Even if demand isn’t disrupted by another Brexit hiatus or an election, there is the potential for discounts running from the end of November through to the holiday. It’s going to be hard for chains to hold their nerve.Brexit means forecasting Christmas sales is even more difficult than usual. But Hyman estimates that non-food sales will fall by 1%, while food sales will be flat, both a deceleration from last year. If he’s right, it would be the first drop December non-food sales since the referendum. Given that the level of discounting is likely to be intense wherever sales land, they are likely to be less profitable.Amid this environment, what is certain is that the discount sector will do well, in food and fashion. The U.K. arms of the German discounters Aldi and Lidl are making efforts once more to prevent customers defecting to one of the big British supermarkets for their main holiday shopping. Upmarket and vegan food products will be a particular feature of their festive offering. Associated British Foods Plc’s Primark, which has been elevating its gift selection and party dresses over the past few years, should also do well.Mid-market chains, such as Marks & Spencer Group Plc could find life tougher, even as some of their competitors are weakened. The privately owned John Lewis Partnership is preparing for even its more financially comfortable customers to be cautious, with plenty of gifts under 20 pounds such as Fever-Tree gin &tonic Christmas crackers and so-called experiences, such as personal shopping and spa days. Although they are more expensive, at about 100 pounds, consumers may feel they are getting more for their money than when they buy traditional gifts.And even if Christmas does turn out to be better than expected – because a Brexit deal has been struck and an election delayed until 2020 — that doesn’t mean plain sailing from now on.  The political wrangling is far from over. What’s more, three years of uncertainty have taken their toll on business investment. Britain shed jobs over the summer for the first time in two years. And let’s not forget any impact from a global slowdown in 2020. Consumers make the most drastic changes to their spending when they are made redundant or they see friends leaving the workforce.British retailers should extend their Christmas wish list to what happens in the New Year too.\--With assistance from Therese Raphael.To contact the author of this story: Andrea Felsted at afelsted@bloomberg.netTo contact the editor responsible for this story: Melissa Pozsgay at mpozsgay@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

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