M&S readies for investor anger on pay July 4, 2010 A STRONG set of first-quarter figures from retail bellwether Marks and Spencer this week looks set to be overshadowed by animosity at the firm’s annual shareholder meeting, with investors set to clash with executives over the eternally thorny issue of pay. Sir Stuart Rose will officially hand over the chief executive’s reins to ex-Morrisons man [...]
Marks and Spencer July 4, 2010 FITTINGLY for a general retailer, Marks and Spencer’s first quarter results on Wednesday will be something of a mixed bag. Analysts are expecting food sales to be up by around 1.5 per cent, with sales of clothes and general merchandise up by 3.7 per cent. But it’s worth remembering that the comparatives are pretty forgiving: [...]
Tui finance boss linked to M&S June 27, 2010 Tui Travel’s finance director, Paul Bowtell, has been linked to a board position with retailing heavyweight Marks & Spencer. Bowtell, who has previously done stints with British Gas and BG Group, is understood to have held talks with M&S about the upcoming finance director vacancy following Ian Dyson’s shock resignation, which came just days after Marc [...]
BEST OF THE BROKERS June 27, 2010 MARKS & SPENCER UBS maintains a “buy” recommendation for Marks & Spencer and said that it forecasts first quarter like-for-like growth of three per cent in general merchandise and 1.5 per cent in food. UBS said the consensus may be a little higher and that there may be an Easter impact as last year’s first [...]
City sharpens knife for Pru’s chairman June 20, 2010 SEVERAL institutional shareholders are agitating for the resignation of Prudential chairman Harvey McGrath as pressure grows on the board over the aborted attempt to buy AIA in Asia for $35.5bn (£25bn). Fidelity, Legal & General, Schroders and F&C are understood to be among those demanding a change at the top of the FTSE 100 insurer, which [...]
The bike and car parts retailer who wants to own Britain on the move June 20, 2010 Halfords and its chief executive David Wild are having a good recession. Earlier this month, the bikes and car maintenance retail chain posted a strong set of full-year figures: pre-tax profits rose 42 per cent to £110m, while sales rose three per cent to £832m. The FTSE 250 business said the trend for healthy living [...]
Sir Stuart bags £4m from M&S June 10, 2010 OUTGOING Marks & Spencer chairman Sir Stuart Rose earned £4.3m last year, a rise of 47 per cent during a period when the retail giant was forced to cut its dividend by 20 per cent. The executive chairman earned £2.6m, including £1.4m in bonuses and cash allowances. The firm’s annual report said deferred share options [...]
Banks drag FTSE down even lower June 2, 2010 BRITAIN’S top share index fell yesterday, led down by banks, but finished well off session lows on fresh hopes for economic recovery after strong US pending home sales data. The FTSE 100 closed 11.98 points or 0.2 per cent lower at 5,151.32, having dropped as low as 5,072.53. The index fell 0.5 per cent on [...]
Capello pens new deal to send England to World Cup in high spirits June 2, 2010 FABIO CAPELLO handed England the perfect boost before they jetted out to the World Cup last night by pledging to stay on as manager until after the 2012 European Championship. Capello, 63, had sparked unease in the camp in recent days by refusing to commit beyond this summer’s tournament, with Inter Milan thought to be [...]
Northern Foods relies on Goodfella’s June 1, 2010 NORTHERN Foods has said it hopes the relaunch of Goodfella’s pizzas will help it to cope with tough trading conditions as it yesterday repor?ted flat annual profits. Chief executive Stefan Barden said the firm aimed to replicate the success it achieved with the relaunch of its Fox’s biscuits, which lifted it to number two in [...]