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
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 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
Retailers enjoy a relief rally as Boris Johnson promises business rates review
Markets are moving off latest polling data, which suggests that Boris Johnson's party has over a 60% chance of winning a majority in December's snap election, after which the pro-business measures would be introduced
Marks & Spencer says transformation "running at pace" but sales still falling
“For the first time we are beginning to see the potential from the far-reaching changes we are making,” said chief executive Steve Rowe
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FTSE 100 closes marginally higher as traders await next round of catalysts
The UK's premier share index finished up 8.57 points at 7,396.65 on the day
Marks & Spencer looks to bring spark back after FTSE demotion
Home builder Redrow and cybersecurity firm Sophos will also be delivering numbers
M&S still failing to reach mainstream customers
Analysts at HSBC lowered their share price target from 239p to 150p and downgraded their recommendation to “reduce”
Marks & Spencer finance head to depart as retailer loses FTSE 100 spot
Today it was confirmed that Marks & Spencer will also lose its spot in the FTSE100 having been one of the original members when the index was set up in 1984.
Marks and Spencer headed for another double-digit profit drop warns Goldman Sachs
Adjusted pre-tax profits fell by 10% in the year ended 30 March, and heavyweight investment bank Goldman Sachs is expecting a similar drop this time around
M&S's FTSE 100 check-out leaves just 27 of the original companies
What happened to the original cohort of FTSE 100 companies?
Berenberg's scoops from the retail front line: sell Asos buy ABF
Asos was downgraded to ‘hold’ from ‘buy’ but the analysts said the e-retailer's problems are “far from insurmountable”
Why you should be looking at small- and mid-caps to stuff into your income portfolio
Most income investors fill their boots with FTSE 100 giants such as BT and Vodafone, but with several high-profile dividend cuts of late, Octopus fund manager Chris McVey reckons a ‘multi-cap’ approach is needed
M&S CEO Steve Rowe to take over leadership of retailer’s Clothing and Home business
In a brief statement, M&S announced that Jill McDonald is leaving the business nearly two years after taking over as Managing Director of Clothing and Home
Ocado investors hang high hopes on tech transformation
Ocado has signed multiple overseas partners in recent years but the market wants to know how much money it can make from these deals, according to AJ Bell's Russ Mould.