|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||9.15 - 9.21|
|52-week range||7.74 - 10.39|
|PE ratio (TTM)||49.25|
|Dividend & yield||0.62 (6.67%)|
|1y target est||9.65|
U.K Prime Minister Theresa May said there was a plan for a no-deal Brexit scenario. But retailers from J Sainsbury Plc to Marks & Spencer Group Plc want details.
Jill McDonald picks up something of a poisoned chalice when she starts as boss of clothing at Marks & Spencer (Frankfurt: 534418 - news) on Monday, with little room to manoeuvre as she tackles one of the biggest jobs in British retailing on her first foray into fashion. McDonald's retail credentials are strong, but they were earned as CEO of bicycles to car parts company Halfords and she will have to work within a blueprint set out by her new boss as she looks to deliver the sustained sales and profit growth that has eluded M&S for a decade in competition with a burgeoning fast-fashion market. To compound matters, Rowe and predecessor Marc Bolland have already used sourcing directors Mark and Neal Lindsey to boost profit margins by changing the way M&S buys and makes clothes, taking away any easy gains for a new boss.
The relationship between brands and their media suppliers has been in the spotlight since the start of the year when one of the world's largest advertisers attacked agencies for being untrustworthy.
Investors love multi-bagger Boohoo.Com plc (LON: BOO) but they should spare a little affection for this high street hero, says Harvey Jones.
Laura Wade-Gery, a former senior director of Marks & Spencer, has joined rival British retailer the John Lewis Partnership, it said on Friday. Wade-Gery was executive director, multi-channel, at M&S but ...
Marks & Spencer (Frankfurt: 534418 - news) (M&S) has announced it is in talks with its franchise partner in the Middle East over the sale of its store network in Hong Kong and Macau. The FTSE 100 retailer, which is trying to turn around its core UK business, said it was looking to expand the franchising arrangement it has with Dubai-based Al-Futtaim to include 27 stores in the Chinese territories. The move, M&S said, was a response to the conclusions of a strategic review of its overseas business last year which proposed it operate with fewer wholly-owned markets.
Marks & Spencer (Frankfurt: 534418 - news) has opened talks to sell its wholly owned Hong Kong and Macau stores to franchise partner Al-Futtaim, the British company said on Wednesday. The food and clothing retailer said it has begun talks on the potential sale of the stores, which Al-Futtaim would continue to operate under the M&S franchise. The move follows a strategic review by M&S last November, in which the company laid out plans to shut more than 80 stores at home and abroad as well as seek joint ventures and franchise partnerships to operate in fewer wholly-owned markets.
Britain's top share index retreated on Tuesday as falls in defensive stocks as well as Pearson and Marks & Spencer (Frankfurt: 534418 - news) overshadowed gains in miners. Mid-cap Carillion extended losses further.
A surprise dip in underlying food sales knocked shares in Marks & Spencer (Frankfurt: 534418 - news) on Tuesday, though the British retailer said its recovery remained on track thanks to a second consecutive quarterly increase in full-price clothing sales. Chief Executive Steve Rowe, a 27-year company veteran who took over in April 2016, said his strategy of reducing prices for entry-level clothing ranges, cutting back on clearance sales and promotions, and improving fit, availability and service was working. In clothing and homeware, M&S's full-price sales - a key guide to profitability - rose 7 percent in the 13 weeks to July 1, its fiscal first quarter, reflecting 27 fewer promotions in the quarter versus a year earlier and no clearance sale.
Marks & Spencer (Frankfurt: 534418 - news) 's boss Steve Rowe said his turnaround plan for the retailer was on track as its sales decline slowed in the first quarter and it scaled back discounting and end-of-season offers. Mr Rowe also said that while the overall figures showed a sales fall, full price purchases were up 7% with reduced discounting and no clearance sale. Earlier this year, M&S reported a 63% plunge in annual profits as costly restructuring took its toll and sales slumped in the year ending 1 April.
The second warmest June on record and the Muslim holiday Eid helped retail sales rebound last month. The British Retail Consortium (BRC) said on Monday night that retail sales rose by 1.2% in June. Food sales grew by 3.6% compared to the same month a year earlier and non-food sales — everything from fashion to beauty — rose by 0.9%.
** Marks & Spencer falls 2.3 pct after reporting falling food and clothing sales, despite the company insisting a turnaround was "on track" ** Q1 clothing LfL down 1.2 pct versus a fall of around ...
Hedge funds have significantly stepped up bets against Britain's traditional high street retailers, as the sector struggles with online competition, worries about a stretched consumer and weakening sales and profits. The risks were on full display on Tuesday when shares in Debenhams slid more than 3 percent to an eight-year low following a weak trading update and a warning on UK sales.
Shares of U.K. companies focused on the domestic market could tumble after the shock hung parliament result in the general election, says Deutsche Bank.
If investors have learned one thing about Marks & Spencer (Frankfurt: 534418 - news) in recent years, it is that the company is a past master at managing expectations. As for the headline pre-tax profit figure, of £176.4m, that was explained away by a tsunami of one-off factors, including changes to pay and pensions, store closures both at home and overseas, a bill for yet more past PPI mis-selling at M&S Bank and restructuring costs at the company's head office, where Steve Rowe, the chief executive, has been slimming down the ranks of top management. The bigger picture is that Mr Rowe and his colleagues appear to be delivering on the promises they set out a year ago, which was to wean the group's clothing and home division off promotions and discounts, while continuing to grow its well-regarded food business.
UK blue chip stocks rose on Wednesday, helped by gains in Marks & Spencer after its solid results and by advances in energy stocks, although weaker miners kept a lid on the British market. The FTSE rose ...
European markets were mixed Wednesday, recovering some of the losses seen in early deals after Moody's downgraded its credit rating for the world's second-largest economy, China.
British retailer Marks & Spencer (Frankfurt: 534418 - news) said improving profit margins and steady market share showed its struggling clothing business was on the mend, despite a 10 percent drop in annual profit and falling sales in the latest quarter. "We've not had, nor do we expect to have, any help from the markets in which we operate," Chief Executive Steve Rowe said, noting that inflation was starting to outstrip the pace of pay rises. "Whilst it's still early days and there is much to do I'm pleased with our progress," he said, pointing to a stabilising market share in clothing, an increase in market share for full price clothes and the removal of excessive discounting.
Marks & Spencer (Frankfurt: 534418 - news) has reported a 63% plunge in annual profits as costly restructuring took its toll and sales slumped. Pre (Shanghai: 600048.SS - news) -tax profits collapsed to £176.4m for the year to 1 April as the retailer was hit by more than £400m in one-off charges reflecting store closures and pension changes. Chief (Taiwan OTC: 3345.TWO - news) executive Steve Rowe warned the sector was facing a tough consumer environment.
On the face of it, the latest full-year results from Marks & Spencer (Frankfurt: 534418 - news) confirm the impression of a business whose food products are outstanding, but whose clothing and home products have somewhat lost their way. At the heart of his plan is what he claims is a much better understanding of M&S's customers and their shopping habits than any of his predecessors enjoyed. It means Mr Rowe now divides his customers into one of three groups: 22 million 'occasional' customers, 7 million 'core' customers and three million 'top' customers, including a 'super group' that shop with M&S 208 times a year for food and 86 times a year for clothing.
Marks & Spencer's bottom line pre-tax profit tanked by 63.5% last year, as the struggling department store spent hundreds of millions on a turnaround plan and clothing sales continued to decline. Marks & Spencer published its full-year results on Wednesday for the 52 weeks to April 1. Pre-tax profit: Down 63.5% to £176.4 million.
Britain's Marks & Spencer (Frankfurt: 534418 - news) reported a 10 percent decline in annual profit and said clothing and homeware sales fell in its latest quarter, dampening the euphoria of the previous three months when it recorded a first increase in nearly two years. M&S, one of the best known names in British retail, made a pretax profit before one off items of 613.8 million pounds ($796 million) in the year to April 1. The outcome reflects lower clothing and homeware sales and higher costs.