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
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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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.
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%
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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