The Notebook: Victoria Scholar on inflation, Ocado’s woes, and why Ted Lasso is a blessed relief March 28, 2023 The Bank of England governor Andrew Bailey has warned firms against rising prices to offset inflation. He told the BBC, “please understand if we get inflation embedded, interest rates will have to go up further and higher inflation really benefits nobody.” The latest UK inflation rate for February surprised economists by picking up again to [...]
Marks & Spencer to reopen 49 cafes as UK lockdown eases May 13, 2020 Marks & Spencer (M&S) will reopen cafes across the UK with social distancing measures in place from tomorrow, as the country gradually starts to ease the coronavirus lockdown. The retailer said 49 cafes will be open to sell takeaway hot drinks following a successful trial at five locations, allowing customers to buy coffee while doing [...]
Marks & Spencer buys stake in Nobody’s Child as it seeks to broaden clothing appeal November 23, 2021 Marks & Spencer has acquired a 25 per cent stake in affordable fashion brand Nobody’s Child, as it hopes to revive its clothing division. The investment is part of the retailer’s brands strategy which uses different models including wholesale agreements, exclusive collaborations, equity investments, and strategic acquisitions, including a purchase of Jaeger earlier this year. [...]
Pubs and restaurants battle to keep prices competitive amid ‘intense pressure’ on margins May 17, 2022 The hospitality sector has warned of “intense pressure” on margins while shoppers have been told food prices could surge as much as 10 per cent. Marks & Spencer chairman Archie Norman cautioned that shoppers could see an even pricey weekly shop amid historic levels of inflation. Speaking to the BBC Radio 4’s Today programme on [...]
Post-Brexit: M&S chairman sounds alarm on higher prices in Northern Ireland July 21, 2021 The chairman of Marks & Spencer has warned that consumers in Northern Ireland will have to contend with higher prices and fewer products if current post-Brexit customs rules come into force this year. Greater bureaucracy involved in goods entering Northern and the Republic of Ireland is “threatening” Marks & Spencer, Archie Norman said in a [...]
Can online favourite Ocado make a comeback, or will its share price sink lower? March 28, 2023 Ocado’s share price fell nearly six per cent in afternoon trade as the “magic” of the online retailer’s venture with Marks and Spencer did little to buoy the confidence of investors In its start of year trading update Ocado revealed that retail revenue grew slightly by 3.4 per cent, although a 7.5 per cent decrease [...]
UK firms welcome Ukranian refugees with offer of 10,000 jobs March 13, 2022 British businesses including Marks & Spencer are calling on government to welcome Ukranian refugees fleeing war in Russia.
City Moves: Who’s switching jobs in the Square Mile today? December 1, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Two Magnolias UK-focused venture capital investor Two Magnolias has posted the former UK head and European president of BP to its board. Peter Mather, who will chair the board, will help Two Magnolias close its new £50m sustainability [...]
M&S bolsters menswear team after skinny jeans fiasco February 12, 2020 Marks & Spencer (M&S) has appointed a new menswear buying director, after the retailer’s Christmas sales were dented when it ordered too many skinny jeans in the wrong sizes. M&S chief executive Steve Rowe has been battling to turn the clothing and home division around, but total revenue slumped 3.7 per cent in the third [...]
M&S to close French high street stores after Brexit red-tape September 16, 2021 Marks & Spencer will shut 11 of its French stores because of supply issues with fresh and chilled foods after Brexit. The supermarket said it would close all franchise stores operated with partner SFH in the country by the end of the year. Nine stores at travel hubs would remain open but supply chain problems [...]