Primark to raise UK store workers' pay by 9.1% [Reuters]
ASSOCIATED BRI/F UNSP/ADR (ASBFY)
NASDAQ:AMEX Investor Relations:
abf.co.uk/investorrelations
Company Research
Source: Reuters
9.1% from April 1, making it the latest retailer to reflect an upcoming rise in the government-mandated minimum wage. Primark is part of Associated British Foods (ABF.L) , opens new tab WHY IT'S IMPORTANT Wage rises are being closely observed by the Bank Of England which monitors pay settlements as it assesses whether the inflationary pressure in the British economy has eased enough for it to cut interest rates from its highest level in 16 years. BY THE NUMBERS Primark said it will raise its average rates of hourly pay for shop workers across England, Scotland and Wales to 12.00 pounds and 12.56 pounds for workers in London. Britain's main government-mandated minimum wage rate is due to increase to 11.44 pounds ($14.69) an hour on April 1 from 10.42 pounds for those aged 21 or over. CONTEXT Several food and clothing retailers have raised their minimum rates of staff pay, including John Lewis by 10%, supermarket Asda with an 8.4% pay rise and Marks & Spencer (MKS.L) ,
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