M&S sales up 4pc but warns of tough 2011 January 11, 2011 Marks & Spencer saw a four per cent rise in total UK sales in the 13 weeks to 1 January. Clothing was the best performer with a 4.7 per cent jump over the period. On a like-for-like basis UK sales were up 2.8 per cent. Chief Executive Marc Bolland said: “Marks & Spencer traded well [...]
BEST OF THE BROKERS January 10, 2011 TRAVIS PERKINS Numis raised the builder’s merchant to “add” from “buy” yesterday at a target price of 1,250p, expecting its acquisition of BSS to enhance its earnings per share by more than 13 per cent. The broker believes the combined group now looks cheap and supported by an improving industry backdrop, should continue to outperform. [...]
Rose leaves M&S as new era begins January 4, 2011 SIR Stuart Rose said farewell to Marks & Spencer (M&S) yesterday, drawing to a close a colourful six years at the helm of the retailer. He formally hands over the reins of chairman to former City banker Robert Swannell today. Sir Stuart, 61, was hailed as an inspiration after steering M&S to a £1bn profit, [...]
The City is back but under new management December 21, 2010 BRITAIN’S financial landscape has been transformed since we last shone a light on the City’s most powerful figures two years ago. The City A.M./CityJet Power Hundred 2011 list ranks the most influential figures in UK finance as we head into the new year. It should be no surprise that it is very different from 2009. [...]
SMELLING OF ROSES IN CAMERON’S NEW COURT December 19, 2010 AND so it came to pass. Outgoing Marks & Spencer chief Stuart Rose has wasted little time in finding another gig for himself: he’s been offered a job working on David Cameron’s “happiness index”, a headline-grabbing little initiative being led by the Office for National Statistics to monitor our “national wellbeing” as a supplement to [...]
Stars in their pies: mincemeat magic December 1, 2010 WHILE turkey and Christmas pudding are held back for the meal on the big day, mince pies are the real staple of the festive season. People who wouldn’t normally dream of a mid-afternoon snack will suddenly find themselves gobbling down piles of pastry and fruity mincemeat, while every cocktail party and seasonal bash is overflowing [...]
Myners to join board of children’s charity ARK November 28, 2010 LORD MYNERS will today be appointed to the board of trustees for the international children’s charity ARK (Absolute Return for Kids). Myners, who started his career as a teacher, described ARK as a “tremendously innovative and dynamic charity”. A former chairman of Marks & Spencer, Myners was headhunted by ex-Prime Minister Gordon Brown to be [...]
BEST OF THE BROKERS November 18, 2010 MARKS & SPENCER Execution Noble has upgraded the supermarket to “buy” with an upgraded fair value price of 475p, following its research on M&S customers. The broker sees the firm’s new strategy as a real driver for sales growth, with the food business as a particularly strong opportunity. It adds that the brand could also [...]
Securitas eyes new UK deals November 17, 2010 THE chief executive of Securitas, one of the world’s largest security companies, is warning that the global threat posed by terrorism is escalating while vigilance at airports means travellers will have to pay the price with longer queues. The company Alf Goransson leads provides security at four airports in the UK, including Liverpool and the [...]
Halfords finance chief unveiled November 15, 2010 Halfords unveiled its new chief financial officer yesterday – poaching Andrew Findlay from Marks & Spencer to be finance director. He replaces Nick Wharton, who is heading to furnishings group Dunelm. Findlay, presently director of finance, tax and treasury at M&S, will start in February. Halfords reports its half-year results tomorrow. Profit for the half-year [...]