|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||2.4700 - 2.5197|
|52 Week Range||1.9500 - 6.1000|
|Beta (5Y Monthly)||1.31|
|PE Ratio (TTM)||52.08|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Nov 15, 2019|
|1y Target Est||2.50|
Steve Rowe has been the CEO of Marks and Spencer Group plc (LON:MKS) since 2016, and this article will examine the...
British retailer Marks & Spencer, seeking to avoid a repeat of last Christmas when its performance was ruined by excessive food waste, is rolling out a supply chain programme it says will crack the problem. Reporting on festive trading in January, two months before the COVID-19 pandemic brought much of Britain to a standstill, Chief Executive Steve Rowe said that while M&S had enjoyed record food sales its profit margins were dented by high levels of waste. M&S normally accounts for just over 3% of the UK grocery market but at Christmas it punches above its weight, selling, for example, one in four of all fresh turkeys consumed.
(Bloomberg) -- India’s Tata Group is in talks with potential investors about taking stakes in a new digital platform, people familiar with the matter said, seeking to modernize its consumer businesses as retail giants like Amazon.com Inc. and billionaire Mukesh Ambani pile into the country’s fledgling e-commerce market.Tata Sons Pvt., the holding company of the $113 billion coffee-to-cars conglomerate, is working with advisers to explore bringing in financial or strategic investors, including global technology companies, the people said, asking not to be identified as they aren’t authorized to speak to the media. The group plans to bring together digital assets across various Tata businesses to create the new entity, according to the people.A Tata Sons representative declined to comment on the stake sale discussions.Tata’s platform -- an e-commerce gateway for its consumer products and services ranging from beverages to jewelry and resorts -- may seek to compete with the ambitious plans of Ambani, Amazon.com and Walmart Inc.’s Indian venture Flipkart to tap the nascent market of more than 1 billion consumers. Ambani, chairman of Reliance Industries Ltd., is looking to forge a digital empire, raising more than $20 billion from big-name partners including Facebook Inc. and Google for his newly formed technology venture, Jio Platforms Ltd.Discussions with potential investors are at a very early stage and there’s no certainty they will result in a deal, the people said.Adding HeftWhile bringing in outside investors would lend credence to Tata’s digital ambitions, it may also help the group pare debt after the coronavirus pandemic hammered its flagship businesses. Tata Steel Ltd.’s group net debt was at $14 billion as of June 30, while the net automotive debt of Tata Motors Ltd., which owns Jaguar Land Rover, was around 480 billion rupees ($6.5 billion).Tata Group already has a bunch of entrenched consumer businesses, many of which also have an online presence. These include Tanishq’s jewelry stores, Titan watch showrooms, Star Bazaar supermarkets, chain of Taj hotels and a joint venture with Starbucks in India. The intention is to consolidate these currently fragmented web operations.As part of that drive, the conglomerate is building an all-in-one e-commerce app for its swathe of consumer products and services, Bloomberg News reported last month. It is expected to be launched by end-2020 or early next year.Walmart is in talks with Tata about a possible investment in the planned app, Mint newspaper reported Tuesday, citing people it didn’t identify. Natarajan Chandrasekaran, Tata Sons’ chairman and a long time chief executive officer of Tata Consultancy Services Ltd. before that, is championing the group’s digitization drive and Tata Digital’s head Pratik Pal is in charge of building the all-in-one app, a person told Bloomberg News last month.Pal has three decades of experience at TCS, where he was global head of retail, and helped with the digital transformation of some of the world’s largest retail chains including Walmart, Tesco Plc, Aldi Inc., Target Corp., Best Buy Co. and Marks & Spencer Group Plc.(Updates with media report of Walmart talks in ninth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.