The FTSE 100’s biggest winners of 2023 December 28, 2023 It has been a tumultuous year on London’s markets as a cocktail of inflation, aggressive rate hikes and geopolitical instability roiled listed equities.
Who is Asda’s chair and why does he want Mohsin Issa to step away? August 12, 2024 Depending on your age and your attention span towards the in and outs of the UK retail scene, you may or may not have heard of Lord Stuart Rose. Knighted in 2008 for his services to the retail industry, he has spent twenty years running some of the biggest names in UK retail: Argos, Marks [...]
Scrap tourist tax before it’s too late, Fortnum & Mason boss warns November 20, 2023 The UK will lose retail sales to France if the government fails to scrap the tourist tax in the autumn statement, the boss of Fortnum & Mason has warned.
Marks & Spencer cuts 950 jobs as pandemic accelerates transformation plan July 20, 2020 Marks & Spencer (M&S) announced this morning that it will cut 950 jobs as it accelerates its transformation plan during the coronavirus pandemic. The retailer announced today that it will create a new retail management structure, which will affect 950 roles across central support functions and property and store management, in the latest blow for [...]
Marks & Spencer to axe 7,000 jobs within three months amid pandemic August 18, 2020 Marks & Spencer is set to slash 7,000 jobs by December in a huge restructuring brought about by the pandemic, it said today. The high street giant, which was struggling prior to coronavirus, will focus the cuts in its central support centre, regional management and UK stores. It comes on top of 950 job cuts [...]
Johnson Matthey share price up 13 per cent after investment firm doubles stake in British chemicals maker September 1, 2023 Shares in Johnson Matthey jumped almost 13 per cent on Friday after the investment arm of New York-based industrial firm Standard Industries nearly doubled its stake in the British chemicals maker to 10 per cent, making it the largest shareholder. Standard Latitude Master Fund had taken a 5.2 per cent stake in Johnson Matthey in April last year and spurred speculation that it [...]
Marks and Spencer shells out £480m as it revamps UK stores in bid to become leading ‘omnichannel’ retailer January 16, 2023 Marks and Spencer (M&S) is to plough nearly £0.5bn into an accelerated UK-wide investment drive which will result in 20 new larger and improved stores across the UK in the next financial year. The retailer also aims to create over 3,400 new jobs whilst providing shoppers with a “seamless” customer experience. M&S said it was [...]
Rowe has earned his money with the turnaround of Marks and Spencer June 7, 2022 Steve Rowe’s pay packet as he departs Marks and Spencer is, unsurprisingly, the subject of plenty of commentary. He’s walking into the sunset with £2.6m for his last year of work, a sum that set against an ongoing cost-of-living crisis in the rest of the economy will always raise eyebrows. Yet Rowe has earned every [...]
M&S digital chief exits amid business boom August 20, 2023 The top dog behind Marks & Spencer’s digital growth is reportedly leaving the retailer just months after being promoted. Chief digital and technology officer Jeremy Pee, who landed the position in January, is understood to be leaving the business to return to Canada. According to a report in The Sunday Times, M&S’s co-chief executive officer [...]
Marks & Spencer scraps executive bonuses due to coronavirus pandemic June 3, 2020 High street retailer Marks & Spencer said it will scrap executive bonuses next year due to the coronavirus crisis. The firm said today that there will be no bonus scheme in operation for executive directors in 2020/21. M&S also said that the pay of chief executive Steve Rowe will be frozen, and there will be [...]