|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||6.17 - 6.32|
|52 Week Range||6.00 - 8.40|
|Beta (3Y Monthly)||1.19|
|PE Ratio (TTM)||128.96|
|Forward Dividend & Yield||0.35 (4.68%)|
|1y Target Est||9.65|
By James Davey LONDON (Reuters) - Marks & Spencer asked to be judged on how fast it is changing as much as its financial results on Wednesday, as the British clothing and food retailer reported a third ...
The main index, whose companies earn more than two-thirds of their profit from abroad, ended 0.1% higher, while the more domestically-focused FTSE 250 slipped 0.7%. A slump in sterling lifted internationally-exposed companies GlaxoSmithKline, Unilever and AstraZeneca, the biggest boosts to the FTSE 100. Stocks most sensitive to the any increased risk of a hard Brexit stumbled after multiple media reported rumours May's ministers could oust her in a row over her latest deal to exit the European Union.
Marks & Spencer Group Plc plans to open more large food stores, shifting away from a strategy of expanding smaller convenience outlets as it prepares for an alliance with online grocer Ocado Group Plc. The prospect of another costly store revamp as profit falls weighed on the U.K. retailer’s shares, which declined as much as 5.4% on Wednesday. Marks & Spencer said a 601 million-pound ($763 million) shareholder rights issue to finance the Ocado deal was fully underwritten.
Profit at Marks & Spencer is expected to fall for the third year in a row next week, with underlying sales poised to slip as the British retailer works through a painful "transformation plan". M&S set out on its latest turnaround, which follows a decade of failed reinventions, shortly after retail veteran Archie Norman joined as chairman in 2017 to work alongside Steve Rowe, who became chief executive in 2016 and has been with the company for almost three decades. M&S wants to make at least a third of its clothing and home sales online by 2022 and as part of its transition struck a 1.5 billion pound online food joint venture with Ocado in February, giving it a home delivery service from September 2020 at the latest.
In February we wrote about the six major indices that can be used to help track the performance of securities on OTC Markets. For this article, we’re going to look a little closer at one of those indices—the ...
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Britain's Marks and Spencer and Ocado launched an online food joint venture on Wednesday, belatedly giving M&S a home-delivery service while netting $1 billion for its fast-growing technology providing partner. M&S, Britain's best-known stores group, has lagged rivals in tapping into Britain's fastest growing grocery area, which industry researcher IGD expects to expand by 52 percent over the next five years to 17.3 billion pounds. Under the deal, Ocado's retail arm will become a joint venture with M&S, which will pay 750 million pounds ($1 billion) for its half share.
European shares fell in early deals on Wednesday, snapping a three-day winning streak amid growing India-Pakistan tensions, and a warning from Beiersdorf hammered consumer staples stocks while Air France-KLM and Marks & Spencer sank. The pan-European STOXX 600 index closed down 0.3 percent, having touched its highest level since the beginning of October on Tuesday.
PLC (MKS.LN) fell nearly 10% in early trading Wednesday after the U.K. retailer announced that it would be cutting its dividend payout and calling on shareholders to raise funds. M&S made the disclosure as it formally announced a “transformational” deal with online grocer Ocado Group PLC (OCDO.LN). Under a new joint venture with Ocado, which was widely reported in the press earlier this year and confirmed by the companies Tuesday, M&S will buy a 50% share of Ocado’s U.K. retail business for up to 750 million pounds ($989.3 million).
British high street chain Marks & Spencer (M&S) is in talks with Ocado to form a joint venture that would give M&S a full online food delivery service for the first time, sending shares in both companies surging on Tuesday. Britain's best known store group and the online supermarket pioneer released short statements confirming discussions after London's Evening Standard newspaper said M&S was set to pay ˜˜£800-£900 million for a 50 percent stake in a combined online retail business. One source with knowledge of the situation indicated the cost to M&S would be lower.
Ocado Group Plc, which said its pretax loss on Tuesday surged, wants to extricate itself from at least part of the U.K. grocery business. It’s not hard to see why the company’s CEO, Tim Steiner, would want to move away from the daily grind of online grocery to concentrate on the whizzy technology arm. It is not clear what form a transaction would take, but one option would be for M&S to provide some of the food sold by Ocado once the latter’s contract with Waitrose expires in September 2020.
British online supermarket Ocado said on Tuesday investment in its partnership deals would hit short-term profits, while remaining tight-lipped about media reports of tie-up talks with Marks & Spencer. The firm's shares have nearly doubled over the last year on the back of four major overseas partnership deals - the biggest of which was signed last May with U.S. supermarket chain Kroger. Last week media reports said Ocado was in talks over a possible tie-up with Marks & Spencer (M&S), Britain's best-known retailer.
The boss of Ocado, the online supermarket and technology group, declined to comment on media reports that it is in talks with Marks & Spencer regarding a possible tie-up. "We're in the business of talking to retailers, we're constantly talking to different retailers all around the world about opportunities we may have with them," Ocado Chief Executive Tim Steiner told reporters on Tuesday. The reports regarding M&S have centred on the group agreeing a supply and distribution agreement with Ocado.
Shares in British retailer Marks & Spencer and online supermarket Ocado rose sharply on Monday on the back of a Sunday newspaper report that they are in talks on the launch of an M&S food delivery service. The Mail on Sunday said talks between M&S and Ocado executives have been conducted over the past few weeks. Shares in M&S rose as much as 2.6 percent, while shares in Ocado rose 6.7 percent.
Here's a summary of some of the sectors and stocks in the United Kingdom that are gaining and losing from May's big Brexit deal loss.
British retailer Marks & Spencer (MKS.L) has announced the next 17 stores it will close as part of its programme to reshape its business, putting more than 1,000 jobs at risk. M&S, Britain's best known stores group, is targeting over 100 store closures by 2022 as it strives to make at least a third of clothing and home sales online. Its store closure plan was first announced in 2016 and accelerated last year.
Britain's Marks & Spencer endured another quarter of falling sales in both clothing and food, underscoring what looks set to be a long and uncertain road to recovery. The 135-year-old mainstay of Britain's shopping streets on Thursday reported a worse-than-expected fall in underlying clothing and homeware sales in the key Christmas quarter, though a decline in food sales was not as bad as analysts' feared. Marks & Spencer (M&S) said its latest turnaround plan, launched just over a year ago, was on track, with "encouraging signs," and it kept its full-year guidance.
British stores group Marks & Spencer takes a big step into online retail, paying out £750 million to own half of online grocer Ocado's UK retail business. Francis Maguire reports.