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Marks & Spencer Group PLC Add to portfolio

LON100:MKS, Jun 25, 06:35 UTC

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Tuesday, May 28


News

Marks & Spencer and easyJet poised for FTSE 100 exit. Time to buy?

MKS EZJ

Marks & Spencer (LSE: MKS) and easyJet (LSE: EZJ) have just seven trading sessions left to save themselves from being dumped out of the FTSE 100 in the summer quarterly index review. According to my calculations, they’re currently the Footsie’s bottom-ranked constituents, and are set to be pushed out by FTSE 250 firms JD Sports Fashion and Aveva, which both stand poised for automatic promotion to the top index. I see a good business, but a multiple that’s a bit too rich for my liking in the retail sector, and I rate it a ‘hold’. Software group Aveva just missed out on promotion in the last quarterly reshuffle, but its shares have continued to rise and now sit at 3,460p (market cap £5.6bn). I see this as another good business, but on a forward P/E of 36, I maintain my previous view that the sky-high earnings multiple makes it a stock to avoid.

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Friday, May 24


News

Marks & Spencer share price: 3 things we learnt from its annual results

MKS

CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved. Its disappointing set of full-year results forced M&S to increase the number of store closures its plans to make as part of its digital first strategy from 100 to 120 by 2023. However, the retailer has promised investors that despite its eagerness to press on with its digital first plans, it will continue to maintain a strong presence on the high street. In February M&S signed a £750 million deal with Ocado to secure home deliveries of its food for the first time, helping the company enter a extremely profitable and competitive part of the retail market. However, investors were quick to vent their frustrations with how the deal was funded, with M&S financing the joint venture primarily through a rights issue, diluting existing shareholders holdings in the company. Another announcement that was sure to upset shareholders was the retailer’s decision to slash its dividend, with the company’s management reducing the payout to 13.9p a share, representing a 26% decrease over last year.

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  • Financial

Thursday, May 23


News

M&S pension scheme transfers 1.4 billion pounds to two insurers

MKS PHNX

FILE PHOTO: Shoppers walk past at a branch of the British clothing and food retailer Marks and Spencer on Oxford Street in London, Britain, January 3, 2019. British companies are increasingly offloading risks linked to their pension schemes to specialist insurance companies, partly because of increased life expectancy. Graham Oakley, chair of the Marks and Spencer Pension Trust, said that the deals provided "an important contribution to the trustee’s ongoing objective of reducing the longevity risk in the scheme to increase the security of all members’ pensions". Advisers on the latest Phoenix and PIC deals were pensions consultants LCP and law firm Linklaters, the insurers said, while PIC also said it was advised by law firm CMS.

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Wednesday, May 22


News

Marks and Spencer to shut another 110 stores as profits drop

MKS

Marks & Spencer is set to shut another 110 stores after seeing its annual profits drop 10 per cent. The high street chain said it is closing another 85 full-line stores and around 25 Simply Food outlets on top of the 35 full-line branches closed in 2018-19 under a previously-announced restructure. But it said the overall size of the chain will remain in line with plans as it also opens and relocates shops, having launched another 48 full-service stores in the past financial year. The store closure details came as it posted underlying pre-tax profits of £523.2 million for the year to March 30, down 9.9 per cent from £580.9 million the previous year. Mr Rowe said: "Whilst there are green shoots, we have not been consistent in our delivery in a number of areas of the business. "M&S is changing faster than at any time in my career - substantial changes across the business to our processes, ranges and operations - and this has constrained this year's performance, particularly in clothing and home.

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News

Marks & Spencer to close 110 more stores as profits fall

MKS

Another 110 Marks & Spencer stores could close after a 10% drop in annual profits. Instead, it said it will be shutting and relocating smaller, less busy outlets as it focuses on larger Simply Food shops with parking access. The continued closures of M&S stores comes after pre-tax profits of £523.3million for the year until March 30 fell 9.9% from £580.9million the previous year. Mr Rowe said: "Whilst there are green shoots, we have not been consistent in our delivery in a number of areas of the business. "M&S is changing faster than at any time in my career - substantial changes across the business to our processes, ranges and operations - and this has constrained this year's performance, particularly in clothing and home.

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News

Marks and Spencer to close over 100 stores and Simply Food outlets

MKS

MARKS & Spencer has said it will axe another 85 full-line stores and around 25 Simply Food outlets. It will be on top of the 35 full-line branches closed in 2018-19, although it said the overall size of the chain will remain as expected as it also opens and relocates shops. The retail giant has posted a 10% drop in annual profits due to falling sales across its clothing arm and food halls as a sweeping overhaul takes its toll. The high street bellwether posted underlying pre-tax profits of £523.2 million for the year to March 30, down from £580.9 million the previous year.

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Sunday, May 19


News

Marks & Spencer profits to slide as food sales fall

MKS

M&S pre-tax profits for the year are predicted to fall by 11% year-on-year to £519 million, according to analyst consensus. Analysts at Jefferies are pencilling in a 3.1% slump in food sales in the fourth quarter after it was impacted by the late timing of Easter compared with previous years. It has been a tough year for the High Street stalwart, accelerating restructuring plans while profit estimates have fallen lower. While food sales for the three months to March are expected to highlight accelerated sales decline, its clothing and home segment is expected to report a 0.4% fall, representing an improvement from a 3.4% drop in the same quarter last year. The retailer reported a 62.1% decline in pre-tax profits for the previous full-year, up to March 2018, as more than £300 million in costs from its store closure programme dragged it down.

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Friday, May 17


News

Marks & Spencer profits to slide as food sales fall

MKS

M&S pre-tax profits for the year are predicted to fall by 11% year-on-year to £519 million, according to analyst consensus. Analysts at Jefferies are pencilling in a 3.1% slump in food sales in the fourth quarter after it was impacted by the late timing of Easter compared with previous years. It has been a tough year for the High Street stalwart, accelerating restructuring plans while profit estimates have fallen lower. While food sales for the three months to March are expected to highlight accelerated sales decline, its clothing and home segment is expected to report a 0.4% fall, representing an improvement from a 3.4% drop in the same quarter last year. The retailer reported a 62.1% decline in pre-tax profits for the previous full-year, up to March 2018, as more than £300 million in costs from its store closure programme dragged it down.

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Saturday, April 20


News

Easter Saturday and Sunday opening times for Tesco, Sainsbury's, Morrisons, Aldi, Asda, Waitrose and Lidl

MKS WMT +2 more MKS WMT TSCO SBRY

BRITS are set to splash out £11billion this Easter Bank Holiday weekend – that’s despite the restricted opening hours coming into play. So, when are the shops actually open today, tomorrow and Easter Monday? On Easter Monday, Tesco’s opening hours may vary depending on locations but as a rule of thumb, all stores in England and Wales will open between 9am and 6pm except Tesco Express stores, which will operate normal hours. On bank holiday Monday, April 22, some stores are opening for shorter days while others – particularly in London – will resume service as usual. Here's how you can buy your perfect home before it even goes on the market. When are the Easter holidays 2019?

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Wednesday, April 10


News

I’d happily sell Marks & Spencer to buy this FTSE 100 growth stock

MKS

Here, I’ll explain why I’d happily sell the stock today, and buy FTSE 100 software giant Micro Focus International (LSE: MCRO) instead. Numerous management teams have tried to crack the conundrum of how to get M&S on a path to sustainable growth. The dividend was slashed by 37.5% in 2000 to help fund one attempt, and by 33.3% in 2009 to help fund another. When M&S embarked on its latest transformation plan, I wrote that I wouldn’t be at all surprised to see the past repeat itself and the dividend rebased. Furthermore, the dividend cut doesn’t appear to be necessary on the known information, which suggests to me the joint venture may need further investment, or the company needs to up capital expenditure in core M&S. Whatever the reason for the seemingly disingenuous dividend cut, I see a perennially struggling business with an expensive joint venture that may or may not work out.

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