|Bid||348.80 x 63000|
|Ask||348.90 x 23400|
|Day's range||348.53 - 351.80|
|52-week range||306.70 - 397.80|
|PE ratio (TTM)||48.46|
|Forward Dividend & Yield||0.24 (5.48%)|
|1y target est||N/A|
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.
LONDON, Oct (Shenzhen: 000069.SZ - news) 10 (Reuters) - Ready (Shanghai: 600090.SS - news) meals supplier Bakkavor plans to list at least a quarter of its shares on the London Stock Exchange in early November, in a deal that sources say could value it at up to 1.5 billion pounds ($2 billion). The company, which counts Marks & Spencer (Frankfurt: 534418 - news) , Waitrose and Tesco (Frankfurt: 852647 - news) as major customers, said on Tuesday it aimed to raise around 100 million pounds from issuing new shares and would also sell part of the stakes held by U.S. hedge fund Baupost and Icelandic founders Agust and Lydur Gudmundsson. London is seeing a pick up in listings, with this year's total already far outpacing 2016 when volatility caused by Britain's vote to leave the European Union caused a number of initial public offerings (IPO) to be postponed or canceled.
LONDON, Oct (Shenzhen: 000069.SZ - news) 2 (Reuters) - Ready (Shanghai: 600090.SS - news) meals supplier Bakkavor plans to name a former boss of toy shop Hamleys as its new chairman in preparation for a London listing that could value it at up to 1.5 billion pounds ($2 billion), a source close to the matter told Reuters. The company, which counts Marks & Spencer (Frankfurt: 534418 - news) and Sainsbury (Amsterdam: SJ6.AS - news) 's as major customers for its sandwiches, salads, dips and ready meals, hired HSBC and Morgan Stanley (Shenzhen: 002588.SZ - news) earlier this year to lead its initial public offering (IPO). Lydur Gudmundsson, one of the two Icelandic brothers that founded the business 31 years ago, intends to step down as chairman ahead of the float and will be replaced by Simon Burke, according to the source.
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.
Investors love multi-bagger Boohoo.Com plc (LON: BOO) but they should spare a little affection for this high street hero, says Harvey Jones.
British share indexes advanced on Tuesday as retail stocks gained and cyclical stocks also helped, with investors awaiting further signs of the direction of monetary policy. Britain's FTSE 100 ended the session up 0.3 percent at 7,275.25 points after a volatile start to trading as investors hesitated ahead of the Fed's two-day meeting starting later in the day.
British bicycles to car parts retailer Halfords on Wednesday named Dixons Carphone executive Graham Stapleton as its new chief executive with effect from January next year. Stapleton will succeed Jill ...
Royal Dutch Shell (LSE: 0LN9.L - news) aims to expand marketing operations in Asia and wants 20 percent of sales from its fuel stations worldwide to come from recharging electric vehicles and low carbon fuels by 2025, as the world shifts away from crude. The Anglo-Dutch firm, with 43,000 fuel stations in 80 countries, aims to expand in China and India, as well as Mexico, where it sees fossil fuel growth in the next decade, John Abbott, the head of refining, trading and marketing, told Reuters.
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 ...
British bicycles and car part retailer Halfords maintained its full year profit guidance on Tuesday after summer sales were boosted by more Britons opting to holiday at home due to the weaker pound. The firm reported retail like-for-like sales growth of 3.5 percent in the 20 weeks to August 18, with a strong performance in camping, roof boxes and cycle carriers complementing growth in service-related sales. Total (LSE: 524773.L - news) group sales growth was 4.8 percent, indicating the firm has so far shrugged off a squeeze on consumer spending.
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 most successful clothing retailer this century, in terms of profits, has faltered over the last two years due to a broader slowdown in spending on fashion and footwear that it first identified in 2015. “I’m marginally less pessimistic than I was three months ago and it’s encouraging to see some of the improvements coming through on Directory," Chief Executive Simon Wolfson told Reuters, referring to the group's online business. Wolfson said that while he expected price increases to moderate next year, it was much harder to predict when consumers would start spending more on clothes.
British online fashion retailer ASOS (LSE: ASC.L - news) on Thursday forecast sales growth for the full 2016-17 year at the upper end of its 30-35 percent guided range, as it reported continued strong trading both in its home market and overseas. Established in 2000 for fashion-conscious twenty-somethings, ASOS was an early e-commerce success story, but is seeing growing competition from the likes of British rival Boohoo and Germany's Zalando (Swiss: OXZALG.SW - news) as well as from traditional store-based chains who have invested heavily in their online offerings. Shares (Berlin: DI6.BE - news) in ASOS, which listed at 20 pence in 2001, have increased 30 percent over the last year, as the depreciation of sterling versus the U.S. dollar and euro post the Brexit vote has allowed the retailer to reduce prices and drive sales in its international markets.
European shares ended Tuesday on the backfoot as losses among defensive consumer staples and real estate stocks outweighed strength in autos and miners. The pan-European STOXX 600 was down 0.7 percent ...
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 ...