M&S stock falls on analyst cut October 7, 2013 A STRING of broker downgrades hit shares in retailer Marks & Spencer yesterday, as analysts fretted over the chances of boss Marc Bolland’s autumn-winter clothing collection. Credit Suisse expects M&S to post a steep fall in first-half profits, with a 1.5 per cent drop in general merchandise sales. And Deutsche Bank cut forecasts for the [...]
M&S to open 150 new food stores creating over 5,000 new jobs October 22, 2013 Retailer Marks & Spencer has announced plans for 150 new franchise and owned UK Simply Food stores in the next three years in order "to further enhance its specialist food positioning and reduce drive times to access M&S Food". Roughly half of those stores will be of around 2,000 square feet and operated in convenience [...]
Best of the brokers for 12 September 2013 September 11, 2013 ADVANCED MEDICAL SOLUTIONS Numis stuck with its “hold” rating and 84p target for Advanced Medical Solutions, following results yesterday that were in line with estimates. The outlook for Advanced Medical Solutions remains positive with progress expected in the company’s Bulk business and US LiquiBand. MARKS & SPENCER Shore Capital reiterated its “buy” rating for Marks [...]
Cranswick sausage sales sizzle but pig prices weigh on profits October 7, 2013 THRIFTY shoppers in search of cheaper meats such as pork and bacon helped boost Cranswick’s sales in the first half of the year. The Yorkshire-based company, which supplies retailers such as Marks & Spencer with pies and sausages, said total sales rose 15 per cent in the six months to 29 September. However it warned [...]
M&S to ramp up its Simply Food store openings October 22, 2013 MARKS & Spencer is set to expand its fast-growing food business by opening 150 Simply Food stores in the UK over the next three years. Speaking at an investor day yesterday, M&S’s executive director for food Steve Rowe said half of the new openings will be in high street or out-of-town locations with car parks, [...]
I mince pie with my little eye… December 17, 2013 This week, we salute the humble mince pie. They’re as much a part of a British Christmas as Buck’s Fizz, crackers and pigs in blankets. Here, the City A.M. team gives their verdict on the best luxury pies in the run up to the big day Konditor & Cook Mince Pie Dozen 7.8/10 With the [...]
Icap’s worst May volumes since 2009 June 5, 2014 INTERDEALER broker Icap had its worst May for five years last month, after total electronic broking volumes fell 12 per cent, according to data released yesterday. The company, which competes with firms such as Tullett Prebon, said average daily volume fell to $690.8bn last month from $788.1bn during the same period last year. The month [...]
Brand Index: Consumer spending pressures also in play on the high street November 5, 2013 MARKS & Spencer’s ninth consecutive quarter of falling sales is set to put further pressure on CEO Marc Bolland, who has argued that recent improvements to the fashion business have been “well-received” by customers, but that high-street spending has yet to catch up with the wider economic recovery. So is this an economy problem, or [...]
M&S to reveal fresh slump in fashion sales November 4, 2013 MARKS & Spencer will reveal how its revamped clothing range is faring tomorrow, with the City braced for another drop in sales. Chief executive Marc Bolland, who has pledged to turn around the general merchandise branch of the business, is set to reveal a ninth straight quarter of falling like-for-like sales as well as a [...]
Inside Track: My top tip for 2014: Deutsche Post will buy Royal Mail December 18, 2013 IT wouldn’t be the final column of a calendar year without some predictions for the next 12 months. Here are my top three: Royal Mail will complete a journey from being wholly-owned by the UK state to wholly-owned by a German enterprise within little more than 12 months. Deutsche Post won’t get it delivered cheap, [...]