M&S thanks its Wise Buys for a revival September 30, 2009 MARKS & Spencer, the high street bellwether, yesterday unveiled better-than-expected results which the City took as encouraging signs the worst may be over after 18 tough months for the retailer. M&S said group sales had lifted by 2.7 per cent in the 13 weeks to 26 September, and while like-for-like sales dipped 0.5 per cent, [...]
Rip Van Winkle to see off Delegator in Queen Elizabeth II Stakes duel September 24, 2009 GODOLPHIN and Ballydoyle go head-to-head again in the Queen Elizabeth II Stakes, tomorrow’s Ascot feature, and I fancy Aidan O’Brien’s RIP VAN WINKLE to win his battle with Delegator. The pair of them stand head and shoulders above their opposition in what really is an old fashioned duel. However, at a best priced 10/11 with [...]
Waitrose draws up plans to open 300 small stores September 24, 2009 UPMARKET grocer Waitrose yesterday unveiled plans to take a bigger share of the convenience store market, saying it could open up to 300 smaller format stores, stepping up its challenge to top end rival Marks & Spencer . Waitrose, part of the employee-owned John Lewis Partnership, also said it would open more stores in motorway [...]
BEST OF THE BROKERS September 21, 2009 MARKS & SPENCERSociete Generale raised its top-end-of-consensus current year pre-tax profit forecasts for Marks & Spencer by 10 per cent, to £654m. The broker increased its target price to 500p and has a “buy” rating on the stock, following the firm’s trading statement last week. WHITBREADGoldman Sachs removed Whitbread from its “conviction buy” list after [...]
M&S searches for next Rose September 20, 2009 Marks and Spencer yesterday hit back at claims that shareholders were wary of an internal candidate being appointed to succeed Sir Stuart Rose. Earlier this month Rose’s key ally and food boss of the retail chain, John Dixon, was elevated to the main board – suggesting to observers that he will be in the running [...]
Retail guru Davies to revive high street with GIVe stores September 13, 2009 RETAIL veteran George Davies is set to open the doors to his new stand alone shopping venture, GIVe, this Autumn. Davies, the founder of high street fashion store Next, Marks and Spencer’s womenswear range Per Una and Asda’s George clothing line has ploughed £20m of his own money into the chain. The much-hyped launch comes [...]
A busy week on the high street as retailers report September 13, 2009 It’s time to hit the high street this week, with a whole host of retailers updating the market. In keeping with that theme, the Office of National Statistics will tomorrow release the Retail Prices Index data for August, which is expected to show that prices fell 1.5 per cent year-on-year, compared to a decline of [...]
Marks & Spencer promotes Dixon to the board fuelling Rose succession talk September 9, 2009 MARKS & Spencer (M&S) has promoted its head of food, John Dixon, to its executive board, strengthening his chance of succeeding Stuart Rose as chief executive next year. M&S has always said it would prefer an internal candidate to succeed Rose, and signs of recovery at the group’s upmarket food business in recent months have [...]
BEST OF THE BROKERS September 8, 2009 MARKS & SPENCERAfter reviewing the autumn merchandise and its own forecasts, Investec raised its full-year 2010 pre-tax profit estimate for Marks & Spencer to £530m, from £475m, based on stronger gross margin progress than in previous guidance. However, the broker believes that some of the margin recovery booked in 2009/10 will make 2010/11 progress harder, [...]
Primark sales boost shares in AB Foods September 7, 2009 STRONG demand for cheap clothes yesterday prompted Primark owner Associated British Foods to hike its full-year earnings forecasts. AB Foods finance director John Bason said Primark like-for-like sales rose by seven per cent in the six months to 12 September, in contrast to declining sales at high street rivals such as Marks Spencer and Next. [...]