Next overtakes M&S as CEO delivers economic warning March 20, 2014 High street fashion store next had, in its own words, a great year last year. In a landmark moment, it's overtaken Marks and Spencer as the biggest clothes retailer by profits in the UK. It's upped its sales growth forecast significantly – from between one and four per cent to between four and eight per cent. [...]
Tesco retreats as Clarke puts the brakes on February 25, 2014 Supermarket pulls out of the space race with plans to slash spending and cut prices TESCO’S chief executive pledged yesterday to put the brakes on its UK expansion and spend £200m slashing prices as Britain’s biggest grocer seeks to revive sales and win back falling market share. Speaking at an investor conference, Philip Clarke laid [...]
M&S investor piles pressure for cash return January 7, 2014 MARKS & Spencer shareholders are putting pressure on the high street retailer to buy shares or increase its dividend, as the City braces itself for a gloomy trading update tomorrow. One top 20 investor told City A.M. “There is some pressure on management somewhat given that we are at the end of the turnaround strategy [...]
A two-speed high street January 9, 2014 A CLEAR split between Britain’s winners and losers in the battle for consumers’ cash this Christmas emerged yesterday, as three of the biggest retail chains revealed worse-than-expected trading. Poor results from Tesco, Morrisons and Marks & Spencer added to dreary updates from Sainsbury’s and Mothercare, with heavy discounting, weak consumer spending and the rising discount [...]
Marks & Spencer hit by analyst downgrades to profit forecasts January 6, 2014 MARKS & Spencer was dealt a further blow after two city brokers slashed their full-year profit forecasts for the embattled retailer, sending shares lower yesterday. Analysts at house broker Citigroup cut their full-year profit forecast by £10m to £630m after a gloomy trading statement from rival Debenhams last week, and amid fears of heavy discounting [...]
Here’s why one bank thinks Marks & Spencer is set to outperform January 23, 2014 Exane BNP Paribas has shown some kindness to poor Marks & Spencer this morning after generously upgrading its recommendation to “outperform”, sending shares up more than two per cent. The French bank, which previously had an “underperform” rating on the stock, bravely argues that after three years of difficult trading and a history of underinvestment, [...]
Bottom Line: CEO’s survival will depend on a revolution January 9, 2014 YESTERDAY marked a very unwelcome milestone for Marks & Spencer’s boss Marc Bolland. Three-and-a-half years into the job, the former Morrisons chief exec has clocked up his 10th successive quarter of declining clothing sales, leaving investors waiting for his promised turnaround yet again. That they’re giving him more time – as evidenced by yesterday’s 3.6 [...]
High street kicks-off sales frenzy ahead of Christmas December 19, 2013 DISCOUNTING activity in the crucial run-up to Christmas has begun in earnest as new figures out yesterday showed that nearly three quarters of retailers were now holding sales in a last-minute bid to win over shoppers. PwC said 72 per cent of the 100 high street retailers surveyed were now on sale or holding promotions [...]
Brand Index: Never mind the hare and bear – Brits are going budget December 17, 2013 OUR RECENT online focus group of people from the so-called “squeezed middle” revealed that they are not feeling the benefits of the economic recovery and also have virtually no faith in politicians (from any political party) to help improve their lot. This week I will delve into which brands the squeezed middle are warming to this [...]
McColl’s kicks off retail IPOs with plan for £50m stock market float January 27, 2014 CONVENIENCE store group McColl’s is set to jump the queue of retailers preparing to join the stock market after confirming plans yesterday to float next month. The retailer, which owns 1,276 newsagents and convenience stores, wants to raise £50m in a main market listing that is expected to value the group at around £225m. McColl’s [...]