Marks & Spencer chair warns on rising mortgage costs
"Interest rates do have to rise but if they rise as fast as has been forecast, that's really pretty bad for the consumer economy," said the high retailer's chair Archie Norman
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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Marks and Spencer to emerge from recession a better business, says Shore Capital
M&S set out 'several ambitions for the business to expand in a number of avenues out to FY28,' said analysts at Shore Capital
FIVE at FIVE: Lloyds share buyback; ASOS a potential target; Bitcoin mining difficulty at all-time high; M&S shares plunge
Here’s Proactive’s round-up of the top financial stories of the day, with helpful links taking you directly to the news
Shares in Marks and Spencer Group PLC shares drop as it warns on rising costs
Energy costs were £40mln higher than planned and without support, it faced possible headwinds of more than £100mln next year
Marks and Spencer to launch Sparks credit card
Customers will also receive 20% of their first clothing and homeware order
M&S hit by Deutsche Bank cut after profit warning from Ocado joint venture
The Deutsche Bank analysts said: "We took a cautious view on M&S back in April given these issues and we see no reason to change that view until we see the actual evidence of the consumer slowdown on the core business"
Cost-of-living crisis has just begun, says JPMorgan taking axe to retail targets
With store staff costs, freight costs and energy costs are all up, analysts slashed target prices for Kingfisher, M&S and Next, as well as cutting earnings forecasts for a wider group
BT and M&S pensioners lose out as court rejects RPI reform appeal
Some retirees may be worse off by as much as 20%, while average pensioner may lose between 10% and 15%
A strong summer but clouds gathering for UK supermarkets, say Shore Capital
Marks and Spencer were one of the better performers in the sector
Archive
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