A strong summer but clouds gathering for UK supermarkets, say Shore Capital
Marks and Spencer were one of the better performers in the sector
Company
Marks and Spencer Group PLC
LON:MKS
Marks and Spencer Group is a retailer of clothing, food and home products in the United Kingdom. The Company has 622 stores, including Simply Food franchise stores, as well as an international business.
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Market mover: Fletcher King falls despite return to profit
A look at some risers and fallers in the market on Tuesday.
Bill Bryson joins list of opponents to Marks and Spencer's Oxford Street store rebuild
A public inquiry, approved by Michael Gove in June, is underway
Marks and Spencer buys logistics company Gist for initial £145mln to revamp food supply chain
The acquisition is the first step in a multi-year plan to transform the retailer's food supply chain
Marks and Spencer CFO to join Primark owner Associated British Foods
Tonge is leaving to join the Primark owner after nearly two years at the company
M&S hit by shareholder rebellion over outgoing CEO’s pay
A significant contingent of shareholders rebelled against Steve Rowe's £1.6mln bonus
Marks and Spencer CEO fires latest shots in war of words with Michael Gove
Machin’s comments come a couple of months after Michael Gove, Secretary of State for Levelling Up, paused plans to demolish M&S’s flagship Marble Arch store
M&S lambasts Gove for blocking low-carbon Marble Arch development
A fifth of units on Oxford Street are currently lying vacant
Marks and Spencer fuming over government decision on Oxford Street store
M&S wants to knock down its flagship store and build a new one in its place. It claims that it is not possible to modernise the building because it contains asbestos
Marks & Spencer to pay chief exec £750,000 for working four-day week
If Bickerstaffe worked a full week, she would be paid more than £937,000 based on the new hourly rate, surpassing co-chief Machin's pay
Has Steve Rowe really left Marks and Spencer in a stronger position than when he joined?
One of the main problems with M&S prior to Rowe’s arrival was the store format
Marks & Spencer forecasts flat year as Rowe departs
The chief executive said M&S had fundamentally changed but results were a mixed bag
Investments and investor services
FTSE 100 closes at session high back above 7,500; US stocks strong as well
The UK blue-chip index ended up 123.46 points, or 1.7% at 7,513.44, the session peak and well above the day's low of 7,389.98
Consumer confident? M&S, Kingfisher and Pets at Home will give retail reading on household squeeze
The entire retail sector has been impacted by surging inflation and supply chain issues
Marks & Spencer warns online sales tax would damage High Street
The government launched a consultation in February into the possibility of introducing an online sales tax
Marks and Spencer cuts prices to keep customers amid cost-of-living crisis
The company said it will be permanently introducing its family Dine In deals, which can feed up to four people
Marks and Spencer joins hand-me-down initiative
With 183mln items of kids’ clothing going to landfill in the UK alone every year, M&S is doing its bit to make it easier for its used kidswear to find new owners
Marks and Spencer making progress reckons Barclays
Barclays expects profit before tax for the year to come in at £525mln
Marks and Spencer senior management changes not expected to change investor sentiment much
Deutsche Bank raised an eyebrow at the proposed switch to a co-CEO (chief executive officer) structure and said it could lead to questions of responsibility and accountability.
Marks and Spencer to go with joint chief execs after Steve Rowe steps down
"I'm proud that I am leaving a very strong team who will lead it into the next growth phase. I wish them every success," Rowe said.
Marks & Spencer undervalued after heavy 2022 selloff - broker
The company's economically resilient customer base and large non-discretionary offering means cost of living fears are overblown, according to Shore Capital
M&S is UK's favourite supermarket but rising prices lift cheaper alternatives
M&S's layout and quality grabs customer score of 78%, with low-cost Aldi, Iceland and Lidl all in the top five UK supermarkets
Archive
Mobile Streams riding the e-sports wave
A look at some of the major movers in London on Thursday
M&S and Ocado among least green and sustainable supermarkets
Lidl and Waitrose were joint top of the range for sustainability
Marks & Spencer books record food sales over Christmas
Food revenues rose by 12.4%, with an even stronger improvement stripping out hospitality and franchise sales.
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FTSE 100 closes higher, bucking a mixed performance among US stocks
Overall, enthusiasm for stocks from earlier in the week is fizzling out, say market watchers
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FTSE 100 closes higher despite US market woes
CPI, UK supermarkets, and US banks dominate next week
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Economists nudge up US jobs estimates although forecasting non-farm payrolls during the pandemic "is a nightmare"
Economists are expecting 424,000 new jobs to have been added to the US economy in December
M&S is Britain’s fastest-growing supermarket - research
Nielsen attributed its success to its increased variety of food products coupled with its shift towards lower prices that has helped it gain market share
Marks & Spencer takes 25% stake in Nobody’s Child
Nobody’s Child has been popular on M&S.com since it launched on the platform last year and continues to drive traffic as the most visited guest brand
M&S plans CEO succession as private equity giant looms - reports
Apollo Global felt shares in the retailer were undervalued, but they have risen sharply in recent weeks
Marks & Spencer to sell food through Costa Coffee outlets
M&S said the move would make it "more relevant, more often for families".
Marks and Spencer downgraded by broker as upside looks limited
"The easy lever of outsized earnings surprises on depressed multiples has been pulled"
M&S to enter clothing rental market
The trial signifies the companies first steps in the rental market as it attempts to stay ahead of its competitors
Marks & Spencer set for FTSE 100 comeback
The retailer’s shares surged after it upgraded full-year guidance and announced a return to profit in the first half
Will M&S's long-awaited online progress force Primark to revisit its bull-headed stance?
Primark parent AB Foods says staying offline gives it much higher profit margins than its rivals
Marks and Spencer raises forecasts, swings back to profit above pre-COVID-19 levels
The retailer expects strong demand to keep up, driven by both the bounce back after lockdowns and improved customer perception of the brand
M&S says Christmas comes early as festive shoppers fret over empty shelves and rising prices
Consumers are worried about possible shortages following warnings about the availability of some products, including food and toys
Marks and Spencer makes convincing case at its capital markets day
The broker said value for money at M&S is better than it has been for many years in both parts of the business
Marks & Spencer says adieu to France amid “near impossible” supply chain
Post-Brexit complexities have resulted in an ongoing impact against the performance of the retailer's business in France.
Marks and Spencer may have finally cracked it with new clothing collection
The ‘Anything but ordinary’ Autumn/Winter range will feature knitwear, Mom and Boyfriend style jeans, padded coats and jumpers, with a “more casual & colourful” style than usual
Marks & Spencer shares jump on upgrade to buy from UBS
The reshaping of Marks is just starting says the Swiss bank
Marks and Spencer expects food import issues when Brexit rules toughen
A grace period on food imports checks is set to end on 1 October
Is it time to fill your basket with shares in UK apparel companies? See what this leading bank has to say Next, Marks & Spencer, Boohoo and ASOS
Deutsche Bank made a host of initiations across the sector. Oddly, the number crunchers there appear to like the UK groups on its shopping list
Marks & Spencer has best day in years as surprise update impresses City
Food revenue outperformed with M&S reporting 10.8% growth over last year
M&S raises profit guidance after strong start to the year
The retailer now expects full-year profits at the upper end of previous guidance of £300mln-£350mln
Can Marks & Spencer catch the retail reopening tailwind?
Rivals have been falling like ninepins during the pandemic
Pingdemic: M&S and CBI urge government to ease isolation rules as shops, pubs forced to shut
Pub company Greene King said it has been forced to close 33 pubs in the past week due to staff self-isolating
Hardware & electrical equipment
AMD to fund £2mln of research into sustainable nanomaterial tech at Sussex uni
The company has previously used graphene based conductive ink technology developed by the university to help Marks & Spencer cut the amount of plastic clothes tags it sends to landfill
Marks & Spencer plan is credible and coherent, City broker says
The retailer has announced a restructuring of its store portfolio while online growth is a key part of the strategy
Marks & Spencer swings to full-year loss, says unclear how recovery will develop
Trading for the first six weeks of the new financial year has been ahead of the same period in 2019 and of guidance
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M&S, British Land and SSE dominate mid-week results diary
Other companies in the diary for Wednesday include Intertek and banknote printer De La Rue
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FTSE 100 rouses itself in the afternoon hours; Wall Street eagerly picks up the baton
London's leading index ended Monday up 34 points, 0.5%, at 7,052
Marks & Spencer aims to 'accelerate pace of change' with new board rejig
As well as more responsibilities for the finance chief, two directors are being moved to become joint operations bosses, with the operations director shifting to a focus on 'future stores'
Aldi puts Marks and Spencer’s in a pickle over charity call for 'cousins' of Colin the caterpillar
The FTSE 250 grocer suggested Aldi should come up with its own character
Marks And Spencer gets the hump with Aldi over Colin the Caterpillar cake
Does Aldi have a leg to stand on? Several legs to stand on, even?
Marks and Spencer to close 29 in-store bank branches amid restructuring
The bank looks to boost its online offering and cardless payment methods for customers
High street survivors to benefit from pent-up demand for offline purchases, says broker
Marks & Spencer, Next and Primark are expected to grab more market share once restrictions are lifted
Marks and Spencer downgraded to ‘sector perform’ by RBC Capital Markets over challenges in clothing, international segments
Food is doing well, helped by the Ocado joint venture, but the other parts of the business have taken a hard hit from the pandemic
Logistics sector eyes ongoing Brexit boom as border chaos continues
While the UK's recent departure from the EU avoided the cliff-edge of a no-deal exit, the imposition of new customs paperwork and a backup of goods lorries at ports has left those in the freight management and warehouse business in a lucrat
Marks and Spencer sales not as bad as expected as online keeps improving
Food sales were up 2.6%, while Clothing & Home sales fell 24%
Archive
FTSE 100 closes marginally ahead on Friday as equities make strong start to 2021
The UK's top share index finished the day around 16 points higher, or 0.24%, at 6,873 Over the week as a whole, it added around 6.4%.
Builders and building materials
M&S, Barratt and US jobs report on the agenda for Friday
There should also be a house prices update from Halifax
M&S closes in on deal to pluck Jaeger from administration
The high street giant is reportedly on the verge of acquiring the fashion brand after its previous owner Edinburgh Woollen Mill Group collapsed in November
Shortened Christmas Eve session to see few fireworks
With the company news and macro calendars mostly bare as markets begin to shut down for the festive season, ongoing turbulence over Brexit and US stimulus are likely to dominate the conversation on Thursday
Open all hours: retailers to be allowed 24-hour trading under temporary measures
England comes out of its second lockdown and enters a new round of tiered restrictions on Wednesday
Black Friday may not produce the profit bonanza retailers are hoping for
The UK's more traditional retailers are facing even fiercer competition from their online rivals this year as pandemic restrictions shift the battlefield into the digital arena
Marks & Spencer to close stores on Boxing Day in policy reversal
The high street retailer had originally planned to open 200 stores on the day after Christmas, however, it said it would now keep them closed to allow workers to spend more time with their families
Marks and Spencer needs to prove itself with overhaul strategy
The retailer has announced significant changes, which many say were long overdue
Marks and Spencer posts first-ever loss, banking on online sales to save Christmas
The retailer is also launching a new website within the home & clothing division to compete with other ‘pure play’ e-commerce brands
Archive
FTSE 100 finishes strong, Wall Street follows suit despite election uncertainty
It looks like we might have to get Harry Hill in to decide the election result unless we want to wait until (say) Friday
Archive
US election results to dominate on Wednesday, M&S results key event in company calendar
Most attention will likely be on whether the most contested election in recent history has resulted in a clear outcome
UK online venture is big deal for M&S but investors unconvinced
UBS analysts said the UK joint venture makes up less than 10% of their Ocado valuation
M&S kicks off delivery partnership with Ocado
The £1.5bn deal, which was originally announced last year, will see M&S products replace around 4,500 items from Ocado’s former partner Waitrose
UK retail sector shedding jobs at fastest rate for eleven years
“Trading conditions for the retail sector remain tough,” CBI economist Alpesh Paleja said.
Archive
M&S's 10% job cuts add to dire few weeks for retail sector
Even before M&S and Debenhams cuts in recent days, total high street job losses have topped 114,000 so far this year
Marks & Spencer to chop another 7,000 jobs as sales tumble
The 'Never the Same Again' programme is being deepened and widened said the retailer
Telling porkies: M&S Percy Pig sweets branded ‘misleading’ in new report
The government-commissioned National Food Strategy said the use of phrases such as “no added sugar” and, in the case of Percy Pig “no artificial colours or artificial flavourings”, were “wilfully misleading” customers
Marks and Spencer to axe 950 as restructuring speeds up
The redundancy plans are expected to be revealed within days and could run into the thousands as the firm aims to accelerate restructuring plans
M&S and Next battle over UK arm of Victoria’s Secret, reports
The two high street giants are vying for control of the UK arm of the lingerie business after the operation entered administration last month
M&S gets upgrade and B&M European Value a downgrade from Jefferies
The analysts said B&M may find it comparatively more difficult in coming months as consumer footfall normalises
Marks and Spencer: mixed picture for analysts and in comparison with rivals
“The group already expects to be grappling with lower demand even as life begins to return to normal,” one analyst said
M&S says coronavirus changes will make it 'faster, leaner, more effective'
Profits were down 20% last year and in the six weeks of the new financial year, food sales are down 9% and clothing down 75%
Archive
M&S to mark mid-week with full year result; Experian and Vistry also to report
Wednesday will also see the latest batch of UK inflation data, which could be weighed down by the recent oil price tumble
FTSE 100 closes 4.3% higher as markets are buoyed on economies reopening
Britain's blue-chip benchmark finished almost 249 points higher, or 4.3% at 6,048
Marks and Spencer’s new clothing and homes boss to start early
The ‘early’ start will come within weeks of the slated reopening of the UK’s non-essential retail, currently slated for June.
Marks & Spencer says no clothing recovery or dividend until 2021 as coronavirus pandemic bites
M&S said it will not pay a dividend in the current year to March 2021
M&S double upgraded and Next downgraded as Credit Suisse rebalances views on UK retail
The bank said M&S's food operation meant it was “better shielded from lockdown than pure Clothing & Home peers”
M&S target price cut as Peel Hunt predicts ‘dark’ results from retailer in May
“You can argue that M&S looks cheap, but crises like this play to the more nimble retailers’ strengths and despite the progress made in streamlining, nimble M&S ain’t”, the broker said
Coronavirus bonuses for 'heroic' front-line supermarket store staff
“It is good PR but more importantly it’s good labour relations,” said one analyst
Marks & Spencer awards store staff 15% bonus for work during coronavirus epidemic
Any of the retailer's staff who are furloughed will still get full pay
As grocers hire extra staff to cope with demand, M&S lags behind
The grocer has not seen a spike in demand due to its focus on fresh food, while the clothing & home section faces more struggles
Marks & Spencer weak as it suspends dividend, clothing sales dive, food remains strong
M&S is set to close some stores temporarily and does not think normal trading will return in the Autumn
M&S and McColl’s likely to benefit from government designation of ‘essential’ retailers, says Peel Hunt
The broker said they believed the UK will implement "more draconian measures" similar to France, which has designated specific types of businesses to remain open during its coronavirus lockdown
Marks & Spencer poaches Greencore' Tonge
Chief executive Steve Rowe said Eoin Tonge would bring “in-depth knowledge of food, as well as strategy and operations”
Marks and Spencer, John Lewis still face hurdles after worst year for retailers
“There are definitely some missteps in it, but let’s not forget it has undoubtedly been a very difficult time for retail,” analysts said
Marks and Spencer starts clothing division recovery but sales still dip
Group sales were down 0.7% due to lower revenue in the clothing & home which has however shown improvement since the first half
M&S gets double upgrade as Berenberg eyes “significant improvement” in clothing and home business
One of the key factors for the bank's positivity was the recent appointment of Richard Price, the former boss of Tesco's F&F clothing brand, as manager of C&H
Marks & Spencer appoints interim CFO
David Surdeau will take on the role from 7 January, filling the vacancy left by Humphrey Singer who stood down on 31 December
M&S gets early Christmas present from Goldman Sachs double-rating upgrade
Traders said that the US investment bank had hiked its stance for M&S to ‘buy’ from ‘sell’ and boosted its target price to 220p from 170p