No Point Raising Primark Prices If Consumers Are Cash-Strapped: AB Foods Boss

There is little point raising fashion retailer Primark's low prices when consumers are short of cash, the boss of its owner said on Tuesday, adding that the group could expand its customer base if rivals take an alternative approach." With cash starved consumers there's not much point," George Weston, CEO of Associated British Foods, told Reuters. He said if Primark raised prices further it would sell less and undermine its value credentials in the eyes of consumers."There's a chance we'll come through strongly with increased market share if others take different decisions on price," he said?after?AB Foods reported full year results.

Glanbia?has reported?a 23.1% increase in revenue in the first nine months of its financial year, on a constant currency basis, with much of this growth (+20.9%) driven by price increases. According to the?nutrition?groups interim management statement, ended 1 October 2022, on a reported basis, revenue for the year to date was up by 36.8%. Glanbia?Performance Nutrition (GPN) business reported like-for-like revenue growth of 14.4%, while its Nutritional Solutions (NS) arm reported like-for-like revenue growth of 14.5%.

Absolut Vodka set is to become the first global spirits brand to move to a partly hydrogen energy-fired?glass?furnace for the large-scale production of its iconic bottles. The company explained that the aforementioned hydrogen initiative is an important milestone for?Absolut Vodka, and will help the brand on its mission to becoming completely?CO2?neutral by 2030. Stéphanie Durroux, chief executive officer of the Absolut Company, commented,"The glass manufacturing industry is on a transformative journey, and the world can’t wait for the perfect solution."

Energy-drinks?giant?Red Bull?will be headed by a board consisting of three current members of senior management following the death of co-founder Dietrich Mateschitz, his son Mark said in a statement issued by the company on Friday. Mateschitz, considered Austria's richest man who?died last month?at the age of 78, founded the company in the 1980s with Thai business partner Chaleo Yoovidhya, turning it into a global brand that invested heavily in sports sponsorship and also bought football and Formula One teams.

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