M&S chief to report drop in half-year profit November 4, 2012 MARKS & Spencer’s chief executive Marc Bolland is expected to come under renewed pressure this week as the retailer admits to falling first half profits for the second time in two years. Bolland, who has been at the helm of the FTSE 100 retailer for two years, is expected to announce interim pre-tax profits of [...]
M&S chief to report drop in half-year profit November 4, 2012 MARKS & Spencer’s chief executive Marc Bolland is expected to come under renewed pressure this week as the retailer admits to falling first half profits for the second time in two years. Bolland, who has been at the helm of the FTSE 100 retailer for two years, is expected to announce interim pre-tax profits of [...]
M&S cuts pension funding costs after narrowing deficit by 80pc November 28, 2012 SHARES in Marks and Spencer were given a boost yesterday after the retailer announced yesterday it had agreed on a cheaper funding plan after slashing its pension deficit by nearly 80 per cent since 2009. The group said the latest actuarial valuation of its UK defined benefit pension scheme, which takes place every three years, [...]
Bonuses slashed at Sainsbury’s and M&S June 7, 2012 The chief executives of major retailers J Sainsbury and Marks & Spencer have both taken cuts in their bonuses after failing to meet targets and as recession forces them to scale back growth plans. Philip Clarke, head of rival Tesco, last month forewent his annual bonus, paying the price for a weak performance in the [...]
M&S to launch four overseas sites October 30, 2012 ■ Marks & Spencer is to step up its international growth plans with the launch of four new foreign language websites next month. The retailer revealed that it will expand online in Germany, Spain, Austria and Belgium on 19 November after opening its first two overseas sites in France and Ireland in the past year. [...]
Topshop seals US future with J Crew owner December 4, 2012 RETAIL magnate Sir Philip Green is close to selling a stake in his family’s fast-growing Topshop fashion empire to a US private equity firm. Sir Philip is in advanced talks to sell up to 25 per cent of his family’s interest in high street labels Topman and Topshop, in a deal which values the two [...]
FTSE 100 lifted by strong results from Marks & Spencer and G4S November 6, 2012 BRITAIN’S blue-chip stock index rose yesterday, buoyed by some encouraging earnings reports in light trade ahead of what is expected to be a close US presidential election result. The FTSE 100 was up 45.84 points, or 0.8 per cent, at 5,884.90 by the close, remaining within the tight 200-point range it has held since September. [...]
M&S boss fights back after half year improves November 6, 2012 MARKS & SPENCER chief executive Marc Bolland yesterday asked for “a little patience” before seeing a turnaround in its troubled womenswear division and defended his strategy as the group revealed a 10 per cent fall in half year profits to £289.5m. The Dutchman, who is 18 months into a five-year plan to revive the group’s [...]
M&S clothing head joins Asos October 10, 2012 AIM-listed fashion retailer Asos this morning confirmed the appointment of ex-Marks & Spencer executive Kate Bostock. Bostock, former head of general merchandise at M&S, will join Asos in January as executive director for product and trading. Bostock announced her departure from M&S in July after a period of poor trading, although she did not officially [...]
Sir Philip sells £500m stake in Topshop brand December 6, 2012 SIR PHILIP Green has sold a 25 per cent stake in his family’s Topshop empire to a US private equity firm in a deal that values the successful high street chain at £2bn. Arcadia, the retail tycoon’s holding company, confirmed yesterday it has sold off a £500m stake in its prized Topshop and Top Man [...]