Marks & Spencer reports 1.1 per cent dip in UK revenue, driven by 8.3 per cent decline in clothing and home sales July 7, 2016 Marks & Spencer has reported a 1.1 per cent reduction in UK sales for the first quarter of its financial year, as the retailer continues to try and turn around its struggling clothing & home division – but guidance for its full year results remains the same. A four per cent increase in UK food sales [...]
Former Marks & Spencer boss Marc Bolland tipped to take up director role at British Airways owner IAG April 25, 2016 Marks & Spencer's former chief executive Marc Bolland is tipped to be named as a non-executive director of International Airlines Group (IAG), the owner of British Airways. An announcement about his appointment could be made as soon as this Friday, Sky News has reported, when IAG unveils its first-quarter results, according to headhunting industry sources. It [...]
Mrs M&S: Steve Rowe’s first blunder? May 25, 2016 Marks & Spencer's new chief executive Steve Rowe has been on the front foot today, setting out his new strategy of ditching promotions and fashion-focused clothing in favour of cheaper prices and wardrobe staples. It's well needed, given that the retailer announced profits down by almost a fifth today, driven by sluggish clothing sales. Under Rowe's [...]
Don’t blame businesses for hiring foreign staff. Improve British skills October 6, 2016 Home secretary Amber Rudd provoked outrage this week for suggesting that companies should list the number of foreign workers they employ. For many in the business community, it hit a raw nerve at a sensitive time. EU nationals that call the UK home and have set up fast-growth businesses, or joined talented global teams, are already [...]
Week ahead: Brexit fears set to hang over FTSE earning reports July 4, 2016 The market is bracing itself for a slew of Brexit induced profit warnings this week as we enter the early stages of reporting season. After the UK’s shock vote to leave the European Union triggered a sharp sell off, the FTSE 100 has rebounded strongly – pushed on by international earners. The blue-chip index ended [...]
Marks & Spencer profits drop by a fifth as Steve Rowe sets out plans to revive clothing business May 25, 2016 Marks & Spencer's share price fell more than 8.3 per cent this morning, despite pre-tax profits falling by nearly a fifth in the last year, as new management unveiled plans to tackle the struggling clothing division. The figures Group revenue at M&S was up 2.4 per cent to £10.6bn for the 53 weeks to 2 April, while underlying pre-tax [...]
New homes on sale in London this weekend: from the biggest development in Chelsea for a century to the regeneration of Catford July 21, 2016 Chelsea Waterfront From £1.55m Overseas buyers are showing a strong interest in new homes at Chelsea Waterfront following the EU Referendum result, according to its developer Hutchinson Property Group. The first phase of the redevelopment of the former Lots Road Power Station has sold out, and 17 out of 28 units remain in the second [...]
Will Marks & Spencer’s new boss Steve Rowe “kitchen sink” the retailer? April 4, 2016 Marks & Spencer's new boss Steve Rowe picked up the reins from Marc Bolland on Friday – just days before the troubled retailer is due to reveal its fourth quarter figures. If M&S' most recent set of results is anything to go by, investors can probably expect another set of declines – particularly within general [...]
New M&S boss Steve Rowe reshuffles womenswear team “to reflect way customers shop” April 20, 2016 Marks & Spencer's new chief executive Steve Rowe has reshuffled the retailer's womenswear teams after pledging to revive the fortunes of the troubled clothing division. The company confirmed it has made some alterations to the way the teams are set up across design, buying and merchandising, resulting in changes to around 200 people's roles. The change means that whereas before a [...]
Marks & Spencer unveils shake up of management team May 12, 2016 Marks & Spencer has revealed a shake up of its senior management team "to drive speedier decision making and move the business closer to its customers". Patrick Bousquet-Chavanne is becoming executive director of customer, marketing & M&S.com, taking on new responsibilities for M&S.com and the retailer's CSR initiative Plan A. It is not clear what will happen [...]