|Bid||3.05 x 0|
|Ask||3.13 x 0|
|Day's Range||3.11 - 3.11|
|52 Week Range||3.11 - 4.56|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
The chief executive of British retailer Marks & Spencer (MKS.L), Steve Rowe, said he and his new chairman, Archie Norman, differed very little on the strategic direction of the company and were working well together. Given Norman's impressive track record of turning around struggling retailers, most famously the revival of supermarket chain Asda (WMT.N) in the 1990s, some analysts had feared he could go beyond his non-executive brief of running the M&S board and become a "back seat driver" of the business.
Mid-caps stocks, like Marks and Spencer Group plc (LSE:MKS) with a market capitalization of UK£4.82B, aren’t the focus of most investors who prefer to direct their investments towards either large-capRead More...
As short sellers swoop on Marks & Spencer Group Plc, value investors are pinning their hopes on a man with a history of turning around struggling businesses.
British retailer Marks & Spencer said it plans to close a further 14 stores in its home market, speeding up a programme to re-shape its store estate as more sales move online. M&S said in 2016 it would reposition about 25 percent of its clothing and home space through a combination of closures, downsizes, relocations and conversions to food-only stores. In November last year, three months after retail veteran Archie Norman joined as chairman, it said it was accelerating this programme, saying it had seen better than expected levels of sales transfer from initial store closures.
British retailer Marks & Spencer (MKS.L) said it plans to close a further 14 stores in its home market, speeding up a program to re-shape its store estate as more sales move online. M&S said in 2016 it would reposition about 25 percent of its clothing and home space through a combination of closures, downsizes, relocations and conversions to food-only stores. In November last year, three months after retail veteran Archie Norman joined as chairman, it said it was accelerating this program, saying it had seen better than expected levels of sales transfer from initial store closures.
Marks and Spencer Group plc (LSE:MKS) is currently trading at a trailing P/E of 27.2x, which is higher than the industry average of 21x. While MKS might seem like aRead More...
British online fashion retailer ASOS beat expectations for sales growth over Christmas and said it sees potential for e-commerce to expand to as much as 40 percent of all clothing sales in developed markets. After ASOS posted a 30 percent rise in retail sales for the last four months of 2017, Chief Executive Nick Beighton told reporters the retailer was ideally placed to tap in to a generation of consumers who increasingly shop on mobile phones and communicate via social media. "The highest penetrated market for fashion on e-commerce is South Korea at over 35 percent, the UK is around 25 percent and the United States is 24 percent," he said.
Marks & Spencer (MKS.L) said on Wednesday it would open a huge new clothing and homeware logistics centre in 2019, as part of the British retailer's strategy of simplifying its distribution network. M&S revised its strategy in November, two months after retail veteran Archie Norman joined as chairman, saying it needed further changes to modernise the clothing and homeware supply chain to reduce costs and make it faster. The firm said it would open a 495,000 square feet mechanised clothing and homeware distribution centre at a former Tesco (TSCO.L) site in Hertfordshire, southern England, next year.
U.K. stocks rise, led higher by tobacco and mining companies boosted by a weaker pound and a rise in metals prices.
Marks & Spencer's clothes and sales fell in the last quarter of 2017, hampering the British retailer's latest attempt at a corporate turnaround and knocking its shares. Once a venerable British institution, M&S faces unrelenting competition on the high street and online, while efforts to revitalise its 134-year-old business are being held back by a squeeze on consumers as inflation rises and wage growth falters. “I would describe the consumer as quite fragile and quite volatile and if there’s a reason not to spend they take it,” M&S Chief Executive Steve Rowe told reporters.
Tesco Plc and Marks & Spencer Group Plc underwhelmed investors Thursday with their Christmas sales updates, wrapping up a mostly downbeat holiday season for U.K. retailers.
Marks & Spencer (MKS.L) has recruited Dixons Carphone (DC.L) finance chief Humphrey Singer to replace chief finance officer Helen Weir, who is leaving the British retailer on March 31 after three years in the role. Singer - who has been group finance director of Dixons Carphone since the company was created through the merger of Dixons Retail and Carphone Warehouse in 2014 and did the same role at Dixons Retail before that - said M&S was changing under the leadership of chief executive Steve Rowe.
The UK's top share index climbed to a new record closing level on Tuesday as Morrisons led a buoyant retail sector on the back of a well-received Christmas trading update. Britain's blue chip FTSE 100 (.FTSE) index ended up 0.45 percent at 7,731 points. Shares in Morrisons (MRW.L) were among the best performers on the FTSE, up 2.4 percent after the supermarket chain beat sales expectations in the all-important Christmas trading period.
Britain's Marks & Spencer (MKS.L) has appointed India's Tata Consultancy Services (TCS) (TCS.NS) as its technology partner and is targeting annual efficiency savings of about 30 million pounds ($40.5 million) in the area by 2021-22. M&S said on Tuesday implementing a new technology programme, which involves TCS taking on core supplier services and management of specialist suppliers, would incur a one-off cost to implement of 25 million pounds. M&S said the technology changes will involve about 250 existing M&S roles transferring to TCS roles.
Britain's Marks & Spencer is expected to report another fall in comparable clothing sales in its Christmas quarter, though the major grocers are forecast to report solid trading as cash-strapped consumers prioritised spend on food and drink. While the big quoted retailers appear to have performed respectably, a theme for the period is likely to be a further shift in market share to the German discounters, reflecting defensively minded consumers.
Marks & Spencer (MKS.L) has sold its retail business in Hong Kong and Macau to its franchise partner Al-Futtaim as it retreats from international markets to focus on its core business in Britain, the company said on Tuesday. Al-Futtaim, which already operates 72 M&S stores across 11 markets in Asia and the Middle East, purchased 27 shops in the deal, which completed on Dec. 30, M&S said. The move follows a strategic review by M&S in November 2016, in which the company laid out plans to shut more than 80 stores at home and abroad as well as to seek joint ventures and franchise partnerships.
By Kit Rees and Danilo Masoni LONDON (Reuters) - Britain's top share index inched up on Wednesday supported by gains among heavyweight consumer and commodity stocks, while housebuilders were dragged lower ...
M&S, Britain's biggest clothing retailer, also said it would accelerate the relocation and downsizing of other stores - part of Chief Executive's Steve Rowe's five-year turnaround plan that is set to initially dent profits. Rowe said its food prices needed to be more competitive in a tough market, while both ranges and availability needed to improve. Rowe, an M&S lifer who became CEO in April last year, denied the latest changes were a direct result of retail veteran Archie Norman joining as chairman in September, saying they were based on data and financial modelling.