Price war: Asda and Morrisons slash prices as supermarkets battle to woo shoppers April 25, 2022 Supermarkets are vying to win shoppers hunting for cheaper deals, as Asda and Morrisons become the latest to announce price cuts. Asda, owned by the billionaire Issa brothers, has said it will inject more than £73m into ensuring the prices of more than 100 essential items are low, until the end of the year. Meanwhile, [...]
Ex M&S boss Lord Rose headed for Asda chairman seat November 23, 2021 The former Marks & Spencer chairman and Land Securities chairs have been announced as new appointments to Asda’s board of directors. Asda said Lord Rose (formerly of Marks & Spencer) has been appointed chairman of the retailer while Dame Alison Carnwath (formerly of Vitec and Land Sec) will join as a non-executive director. The pair [...]
From frumpy fashion to TikTok trendsetter: How M&S regained its high street crown November 8, 2023 Marks & Spencer (M&S) has once again found itself back in fashion with investors and shoppers, posting a near £100m in rise in profits in its half year results. Shares in the company rocketed over 10 per cent this morning after the century-old business said its turnaround plan which intends to make the brand look [...]
Rishi Sunak’s ethics adviser ‘would expect approval to investigate ministers’ February 23, 2023 Rishi Sunak’s ethics adviser has said would expect to be given the go-ahead to investigate a minister if he believed there had been a breach of the rules. Sir Laurie Magnus told MPs that while he required the prime minister’s permission to mount an inquiry into alleged violations of the Ministerial Code, he believed it would only be [...]
Ocado joint venture with Marks & Spencer ‘working well’ December 12, 2019 Ocado has said its joint venture with Marks & Spencer is “working well,” as the retail delivery giant said revenue growth slowed slightly in its latest quarter. The firm saw growth in weekly orders, but stable average order size for the 13 weeks to 1 December. Read more: Ocado sales growth accelerates after Andover fire [...]
Marks boss: Running a business under this government is like ‘going up a down escalator with a rucksack on your back’ March 5, 2024 Marks and Spencer boss Stuart Machin has said operating a business under the current government is like “running up a downwards escalator with a rucksack on your back”.
Mark Kleinman: Proxies, a stock market exodus and a Kingfisher mystery April 18, 2024 Mark Kleinman is Sky News’ City Editor and is the man who gets the City talking in his weekly City A.M. column.
Marks & Spencer shares slip as clothing underperformance weighs on Christmas trading January 9, 2020 Marks & Spencer’s Christmas performance was weakened by poor sales in its menswear business, after the retailer ordered too many skinny jeans in the wrong sizes. The high street chain said it over ordered skinny and slim-fit mens’ trousers, under-bought regular fit jeans and had too many small sizes and not enough medium and large. [...]
Legal challenge over retail price index changes could cost taxpayer $40bn, analysts warn June 21, 2022 The government could be forced to fork out as much as £40bn in compensation if a legal challenge launched today over the Treasury’s move to recalculate retail prices succeeds, analysts have warned.
Asda chair calls for business tax relief amid historic inflation levels June 19, 2022 Retail grandee Stuart Rose has said the government was too slow to move on the cost of living crisis and historic levels of inflation. The Asda chair and former Marks & Spencer boss has urged ministers to help struggling households amid the “tough times.” Speaking on Aquis Exchange’s Full & Frank podcast, Rose said Asda [...]