primark is famous for its very cheap t—shirts.ling t—shirts in your stores for as little as £2 or £3? and how can you be making a profit on those? primark said it was all about its business model. we do no advertising. you'll see no billboards, do no television advertising. no significant advertising at all. and that saves £150 million compared to some of our larger rivals. that goes straight into price which keeps our pricing well. we then work with our factories, we often buy longer lead times and quiet periods for the factories. and then we pay the factories early. if you're a factory owner, you will be able to get a better price to reflect that. mary creagh wondered how primark was reducing waste. it's just been easy to chuck things in a landfill and forget about them. isn't that the problem with the fast fashion industry if you're selling stuff at £5, people will not treat with any respect at the end of its life, it will just go on the bin? every item that we make and produce and sell, we are looking at durability. it is not

sales at primark fell in the year to september — blamed on bad weather.d a 2.1% decline in like—for—like sales. primark has — until now — been reporting stronger sales year on year — as it cashed in on demand for so—called fast fashion. from today, women in the uk will begin to qualify for their state pensions at the same age as men — currently 65. women who are 65 on 6th november will therefore be the first to wait for as long as men. but critics say that women are still a long way from pension equality, as the amount they typically receive is lower. let's talk to the former pensions minister, baroness ros altmann now. lovely to have you. explain to me, is this pensions equality in reality? absolutely not. state pension age is being equalised but state pensions are not equal, women get less than men and private pensions are certainly not equal, women get a lot less than men from private pensions. yes, the age at which you can start getting your state pension is the same for men and women from their wine, but that doesn't mean we have a quality even in th

we're focusing on primark and abf.'s get to you first on gam. >> big news for gam this morning, they ousted the chief executive officer, he will be replaced by david jacob, a board member while the company looks for a successor. gam has had a hard time recently, they have had trouble after the suspension of the bond manager. they had to liquidate and naming the chief executive gives them a bit of a clean slate. shares are up 7% premarket. this is one to watch and we will be keeping you informed. anna: we will see if that bounces. another profit warning from pandora. >> this is the second time that andorra cut it growth outlook and pandora is a growth company so it hits them where it hurts. while the stock is in for a bad most ae stock lost on percent yesterday as investors repositioned ahead of the earnings so that may take the top of the reaction in today's market. let's go to another part of the retail sector, you have news on a bee foods. >> the bakery owner, the sugar producer, they are known for primark which has

it is hard to comment on primark 's setup.u need to hit the consumer and make sure they understand the impact of what they are buying. we are talking to young people and giving them solutions. we are saying, firstly, from our point of view, clothes are being wasted and thrown into household bins when they could be worn again or reuse. what we are trying to say is don't ever throw clothes in the bin. and also think about second—hand instead of new. there is great quality second—hand of new. there is great quality second— hand clothes out of new. there is great quality second—hand clothes out there. if people start to do those things, brands will see a change in behaviour. took me through the impact of fast fashion on the environment. currently, there are 300,000 tonnes of coal is going to landfill in the uk every year. —— clothes. that does not need to happen. young people or anybody can just stop that by not throwing clothes in the bin and looking for clothes in the bin and looking for clothes banks or charity shops. thank you

you look at primark, marks & spencer, they're not participating. they say we give you good deals all year around. also retailers, black black friday is a margin-eroding event and it's happening four, five weeks before christmas, at probably the worst time of the year for retailers to enter into low-margin dizzinesbusiness so some retailers are stepping outside of it and some retailers are tactical about the bargains they provide >> the fact we're seeing black friday extend beyond the day to the weekend to the week, longer in some cases, does that affect the volume some businesses get >> it can be a problem traditionally this is the period where retailers enter into full margin, full sales where traditionally they earned a lot of their profit for the year that's been disrupted by the arrival of black friday. we have a low margin event now we have a lull for a few weeks afterwards >> can we get into the demographics the older segment is tailing off in terms of their involvement in the black friday sales does that mean millennials who typically like t

sales at primark fell in the year to september — blamed on bad weather.g. staying with shopping — because europe‘s busiest shopping street — that‘s oxford street here in london — will be lit up for christmas tonight with the annual festive light switch—on. and they‘ll be hoping the lights will help boost sales for all retailers — amid a wider downturn for high street retailers. well, the new west end company represents 600 firms around 0xford, regent and bond streets and says the area it will have contributed £11 billion to the uk economy by 2019. let‘s talk to jace tyrrell, chief exectuive of the new west end company. good morning. let‘s talk about that wider challenge for the high street, we‘ll get onto the christmas lights and a second. you‘ve got a good overview of what‘s happening, how is it out there right now for retailers ? it out there right now for retailers? really challenging, this isa retailers? really challenging, this is a sector in complete transformation, at the sharp end here in the west end, customers are changing the way they shop and

we have also had some disappointing news from the likes of new look and primark.has had what can only be described as an extremely volatile day—to—day? sign a very volatile. at one point, we we re a very volatile. at one point, we were at a two week high, and that was on the back of hopes that we would have a positive brexit outcome. but then of course, the dup put the cat amongst the pigeons and it has gone pear shaped. what will happen with sterling is it will go up happen with sterling is it will go up and down depending on what announcements are made, what reports are leaked and general hesitation and anticipation of whether we will get some kind of a brexit positive outcome or not. and new look, more disappointing news in the high street. we have already heard that 60 stores will go and now we are looking at potentially 100. it was 1000 jobs already, so potentially even more. they are talking about the robust read—out of the business. from the figures that came out today, the sales were down, which isn't good, no business wants that. but they weren't as bad a