British multinational food processing and retailing company
The John Lewis Partnership has reported a pre-tax loss of 124 million for the six months to August 1, 2026, driven by higher costs and ongoing restructuring. Sales at Waitrose rose while department stores declined. The group remains in a turnaround plan that has seen store closures and job cuts, with leadership changes and a cautious outlook for the second half.
Associated British Foods says Primark has bought an automated Sheffield warehouse and will offer home delivery in Great Britain in the future, expanding beyond its click-and-collect model. ABF notes a 2.6% drop in Primark sales year-on-year, with UK performance modestly positive while continental Europe underperforms. The demerger of Primark from ABF is planned for end-2027, positioning Primark for a potential FTSE 100 listing.
Markets are stabilising after a stretch of high activity in tech options, with traders shifting focus as implied volatility cools. Small caps are leading potential next moves, while global equities reflect a policy-led, carry-friendly regime.
The government has moved up the removal of the de minimis import relief to October 2028, after discussions with industry. Retailers call the timeline still too slow, arguing it leaves UK high streets at a competitive disadvantage to foreign online sellers.
Shein's Hong Kong listing is priced lower than hoped, valuing the company around $26.3 billion. Trading began shakily, with early losses narrowing as markets digest regulatory twists, tax changes, and weak consumer sentiment that have weighed on the fast-fashion group after a rapid ascent.
Associated British Foods has reported a forthcoming update on fourth-quarter trading, with Primark leading sales amid a volatile retail climate. Analysts expect a potential late-summer boost from price reductions on hundreds of clothing items, while ABF prepares to spin Primark off as a standalone FTSE 100 entity by 2027. The update also flags pressure from higher gas costs and a weaker sugar division.