Primark primed for growth as profits leap — but snubs push into online. Primark’s top brass on Wednesday said there is no stopping the fashion chain’s rapid expansion — but disappointed fans keen to see it begin selling online. Finance chief John Bason said: “There’s a lot of space left to open — not in the UK. We’re going into central and eastern Europe. I don’t think we’ll run out of opportunities.” The budget retailer, owned by Associated British Foods (ABF), saw sales increase by 4.4% for the half year to March 24, thanks largely to opening stores in Europe and the US. Same-store sales, which exclude sales from new stores, fell 1.5%, dragged down by Germany, where the business has been struggling.
Aviva (AV.) high-flyer Andy Briggs quits after losing out in chief race. One of Britain’s top insurance bosses, Aviva’s UK chief Andy Briggs, is stepping down with a near-£3 million maximum pay package shortly after missing out on the top job at the company. Briggs, who joined Aviva in 2015 after the £5.6 billion takeover of Friends Life, lost out to Aviva chief Maurice Tulloch last month following a closely fought contest to replace Mark Wilson, prompting questions about his future. He has decided to leave the group, and will take six months’ gardening leave before stepping down on October 23. He is in line for salary, bonuses and long-term share payouts of up to £2.8 million, but this could be lower if the company performs poorly.
