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Marks & Spencer Group PLC Add to portfolio

LON100:MKS, Jul 14, 12:01 UTC

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Wednesday, May 20


News

Marks & Spencer Share Price: M&S Profits Fall 20%

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M&S has fallen between the cracks of keeping its existing demographic happy, while also appealing to a younger breed of shopper, who chooses to shop at the likes of Primark or some of the more stylish boutique brands, as well as the likes of Next, who have a much more efficient online operation. This decline in the M&S share price eventually resulted in it being dropped out of the FTSE 100 towards the end of last year, before the shares hit new record lows of 74p in the middle of March. We’ve seen a modest rebound in the M&S share price since then, but the road back is likely to be a tough one, given its problems predated the onset of the coronavirus pandemic, as well as the fact that it occupies a position as a cross between a general retailer and to a lesser extent, a food retailer, at a time when most of their stores like a lot of other retailers are closed. Never the same again strategy. As far as the new 'Never the Same Again' turnaround strategy is concerned, the focus appears to have shifted much more towards online with the Ocado tie-up being at the centrepiece of it. Some 6,000 M&S lines will be added to the Ocado food range in time for the September switchover, as the company ramps up its food offering, while at the same time adding 1,600 clothing and home products per year, so that the Ocado retail platform not only offers food but a wholesale online retail experience.

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News

Marks & Spencer profits slide on struggling clothing business

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The retailer said profitability improved in its food business but profits dropped by more than a third in its clothing and home arm. M&S also told investors that it took a £52 million hit to profits due to coronavirus, while it estimated that costs and stock writedowns related to the outbreak cost it £212.8 million. Like-for-like food revenues increased by 1.9%, while its clothing business saw like-for-like revenues dive 6.2% as it was impacted by availability issues in the first half of the year. Chief executive Steve Rowe said: “Last year’s results reflect a year of substantial progress and change including the transformative investment in Ocado Retail, outperformance in Food and some green shoots in Clothing in the second half.

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Monday, May 18


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Marks & Spencer sets out plan for unused stock amid huge post-lockdown fashion sales

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You can read more in our cookie notice. Or, if you do not agree, you can click Manage below to access other choices. If you choose not to, you will still see adverts on our site, because they help us to fund it, but those adverts will not be tailored to you. In what is being described as a lost season for high street fashion, most chains are priming themselves for a massive stock clearance sale when shops reopen at the beginning of June. Fashion giant Marks & Spencer is in talks to "hibernate" millions of pounds worth of unused stock, amid fears the coronavirus lockdown could force many chains into administration. She added: "For consumers this could mean bumper sales when shops reopen, as sales stickers are one of the quickest ways to shift excess items." But clothing giants including M&S, Next and Debenhams are sizing up alternatives to huge price cuts across the board by recycling items for 2021.

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Sunday, May 17


News

Marks & Spencer reopens 49 cafes - full list of locations

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These adverts enable local businesses to get in front of their target audience – the local community. It is important that we continue to promote these adverts as our local businesses need as much support as possible during these challenging times.Close. The high street retailer said it had taken the decision to reopen the sites to takeaway customers after operating social distancing and extra hygiene measures in its stores. M&S said the cafes would be opening for takeaway hot drinks only and the sites selected were all cafes located next to M&S Foodhall stores which have remained open through the lockdown.

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Saturday, May 16


News

The Week Ahead: UK Retail Sales; Marks & Spencer, Royal Mail Results

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In this week's video, UK chief market analyst, Michael Hewson, reviews the week's price action on the Germany 30, UK 100 and SPX 500, and looks ahead to the latest FOMC minutes, UK unemployment and industry data, as well as the latest results from M&S, Royal Mail and Burberry. Tuesday: The most recent ILO report for the three months to February posted a modest uptick to 4%, from 3.8%, but recent events have made these figures rather moot. Even accounting for the fact that nearly 6m workers have been furloughed, we’ve still seen reports of over 1m applications for universal credit in the last few weeks, which means that this month’s jobless claims for April are expected to show a huge jump from the 12,200 rise in March. With so many people losing their jobs, or likely to in the coming months, the main hope now is that we see the country come out of lockdown fairly quickly, without too many side effects. It has proved to be remarkably resilient to the disruption caused by the spread of coronavirus, with its Mexico unit seeing a 15.4% rise in first-quarter profit at the end of April. As one of the US’s biggest retailers, it’s likely to have been hit by the various shutdowns across its store real estate, and while its online operations are on a par with Amazon, its profit margins are much thinner.

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Friday, May 15


News

The Week Ahead: UK Retail Sales; Marks & Spencer, Royal Mail Results

MKS RMG

In this week's video, UK chief market analyst, Michael Hewson, reviews the week's price action on the Germany 30, UK 100 and SPX 500, and looks ahead to the latest FOMC minutes, UK unemployment and industry data, as well as the latest results from M&S, Royal Mail and Burberry. Tuesday: The most recent ILO report for the three months to February posted a modest uptick to 4%, from 3.8%, but recent events have made these figures rather moot. Even accounting for the fact that nearly 6m workers have been furloughed, we’ve still seen reports of over 1m applications for universal credit in the last few weeks, which means that this month’s jobless claims for April are expected to show a huge jump from the 12,200 rise in March. With so many people losing their jobs, or likely to in the coming months, the main hope now is that we see the country come out of lockdown fairly quickly, without too many side effects. It has proved to be remarkably resilient to the disruption caused by the spread of coronavirus, with its Mexico unit seeing a 15.4% rise in first-quarter profit at the end of April. As one of the US’s biggest retailers, it’s likely to have been hit by the various shutdowns across its store real estate, and while its online operations are on a par with Amazon, its profit margins are much thinner.

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Sunday, May 03


News

Coronavirus: Marks & Spencer to permanently overhaul shopping

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Coronavirus: Marks & Spencer to permanently overhaul shopping | Landmark Glasgow building with hotel scope for sale | Scottish biotech firm develops potential Covid treatment. The long-term impact of coronavirus on the high street began to become apparent this week as Marks & Spencer revealed its plans for a “never the same again” overhaul after the outbreak as it warned trading is expected to be affected for the whole of 2020. In another of our best-read online stories this week, a Glasgow-based biotechnology firm has claimed the discovery of two separate potential novel treatments for Covid-19 patients before they are put on ventilators. READ MORE: Portcullis House at 21 India Street, which is owned by Mapeley, occupies a “substantial heritable island site of 0.826 acres”, with the property extending to around 99,782 sq ft, CBRE noted. As the coronavirus crisis continues to rip through the economy, a Scottish engineering giant said it is to cut 800 from payroll as oil downturn hits US business.

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Thursday, April 30


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Marks & Spencer appoints two new non-executive directors - Fibre2Fashion

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UK’s biggest clothing retailer, Marks and Spencer (M&S) is appointing Tamara Ingram and Sapna Sood as non-executive directors with effect May 21. In addition, Katie Bickerstaffe who started in her role of chief strategy and transformation director on April 27 will step down, and Eoin Tonge is confirmed to join as chief financial officer on June 8. She is currently non-executive chair of Wunderman Thompson and a non-executive director for Marsh MacLennan. Sood is a group director at Compass Group Plc where she leads the international clients and market development business and has been non-executive director at Kering for the last four years with her term expiring on June 16, 2020. In her previous career she held leading operational roles in the building materials and industrial gas sectors in Europe and Asia-Pacific, latterly as CEO and president of Lafarge Holcim in the Philippines. Sood has in-depth knowledge of running complex supply chains, including food and clothing, as well as experience of leading large transformation programmes.

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Tuesday, February 11


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Latest Company News for Royal Bank Of Scotland Group

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The UK's benchmark FTSE 100 index reversed early morning declines during the day to as investors pushed share prices higher following the Queen's speech, which repeated Boris Johnson's 'get Brexit... FTSE 100 rallies into 'get Brexit done' Queen's speech, reversing earlier decline. The Royal Bank of Scotland Group (RBS) and its subsidiaries Natwest Markets Plc (NWM) and Natwest Markets N.V. (NWM N.V.) announced that Chris Marks and Richard Place have stepped down as chief... The Royal Bank of Scotland Group has reported an operating loss before tax of £8m in the third quarter of 2019, including a £900m provision in respect of Payment Protection Insurance (PPI). Barclays Capital today downgrades its investment rating on Royal Bank of Scotland Group (The) PLC (LON:RBS) to equal weight (from overweight) and cut its price target to 225p (from 250p).

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News

Marks & Spencer appoints CFO

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Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser. Tonge has been CFO of Greencore since 2016, where he has overseen key strategic changes including the divestment of Greencore’s US operations, and refocusing the business on its UK operations. Marks & Spencer is reportedly still searching for a new group chief financial officer, just days before incumbent CFO Humphrey Singer is set to leave the business. Marks & Spencer has announced that it has appointed former Tesco director David Surdeau as its new interim group chief financial officer.

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