M&S sales rise but year ahead set to be harsh January 11, 2011 MARKS & SPENCER saw sales rise in the key Christmas period but the retailer warned that 2011 would be tough, with austerity measures and the spectre of inflation rises to take their toll. Same-store sales rose 2.8 per cent in the UK in the 13 weeks to 1 January despite the impact of the snow. [...]
M&S sales up – but warns over tough times ahead October 7, 2010 Marks & Spencer has seen total group sales rise in the UK by 6.5 per cent in the second quarter but warned that trading in the coming months will get tougher. Clothing rose by 7.8 per cent while homeware surged by 9.36 per cent in the 13 weeks to 2 October. Marks & Spencer food [...]
M&S sales up – but warns over tough times ahead October 7, 2010 Marks & Spencer has seen total group sales rise in the UK by 6.5 per cent in the second quarter but warned that trading in the coming months will get tougher. Clothing rose by 7.8 per cent while homeware surged by 9.36 per cent in the 13 weeks to 2 October. Marks & Spencer food [...]
Northern Foods and Greencore plan merger November 17, 2010 Food manufacturer Northern Foods has agreed to merge with Ireland’s Greencore Group to create a combined group with annual sales of around £1.7bn. The deal will see the creation of a combined business to be named Essenta Foods which will be headquartered in Dublin, the companies said in a joint statement. Northern Foods shareholders will [...]
M&S readies for investor anger on pay July 4, 2010 A STRONG set of first-quarter figures from retail bellwether Marks and Spencer this week looks set to be overshadowed by animosity at the firm’s annual shareholder meeting, with investors set to clash with executives over the eternally thorny issue of pay. Sir Stuart Rose will officially hand over the chief executive’s reins to ex-Morrisons man [...]
BEST OF THE BROKERS November 15, 2010 MARKS & SPENCER Deutsche Bank rates the high street giant a “hold” with a target price of 430p. The broker believes the benefits of new boss Marc Bolland’s overhaul of the stores will not be seen until 2012/13. However, DB says the retailer’s recent results pointed to strong sales momentum in the short term, with [...]
BEST OF THE BROKERS November 18, 2010 MARKS & SPENCER Execution Noble has upgraded the supermarket to “buy” with an upgraded fair value price of 475p, following its research on M&S customers. The broker sees the firm’s new strategy as a real driver for sales growth, with the food business as a particularly strong opportunity. It adds that the brand could also [...]
BEST OF THE BROKERS November 18, 2010 MARKS & SPENCER Execution Noble has upgraded the supermarket to “buy” with an upgraded fair value price of 475p, following its research on M&S customers. The broker sees the firm’s new strategy as a real driver for sales growth, with the food business as a particularly strong opportunity. It adds that the brand could also [...]
BEST OF THE BROKERS October 10, 2010 MICHAEL PAGE Michael Page’s solid trading update outlined the benefits of both its diversity and position in a perm-led recovery, according to Numis. The broker continues to like the shares for a long-term view without further significant upgrades at this stage, it believes the shares will pause for breath and maintains a “hold” rating. MARKS [...]
M&S to reveal new masterplan November 7, 2010 MARKS & SPENCER will tomorrow unveil its blueprint for expansion with new chief executive Marc Bolland at the helm. The retail giant’s half-year results mark the start of a new era as Bolland shapes the company’s future – with international expansion expected to be high on the agenda. Analysts and investors are expecting a detailed [...]