J Sainsbury in bullish mood May 13, 2009 J SAINSBURY has pledged to dominate the grocery sector over the next decade, after reporting a stellar 11.3 per cent pre-tax profit hike to £543m in the year to 21 March. Chief executive Justin King said the group now has “the greatest growth potential of any grocery retailer in the next ten years”. Sainsbury’s has [...]
Northern Foods passes on fuel costs July 29, 2008 Northern Foods, the maker of chilled ready meals sold at Marks & Spencer, said yesterday it planned to pass on £32m of rising commodity and fuel costs to consumers. Chief executive Stefan Barden said: “We would be expecting to fully recover all the input cost inflation. We have to date and we would intend to [...]
Rose survives protest vote on double role July 10, 2008 Marks & Spencer boss Sir Stuart Rose has kept his job after a planned shareholder revolt at the retailer’s annual meeting yesterday turned into no more than a whimper. Over 94 per cent of the grey-haired army that braved the rain to descend on the Royal Festival Hall on London’s South Bank yesterday afternoon to [...]
Rose to dodge investors’ ire July 9, 2008 Marks & Spencer boss Sir Stuart Rose is likely to keep both his jobs as chief executive and chairman despite facing fiery opposition from shareholders at the retailer’s annual meeting today. Up to 30 per cent of shareholders are planning to either vote or abstain over concerns about his dual role, though analysts doubted they [...]
How Marks & Spark’s reputation helps to predict its share price July 7, 2008 Does it help M&S to be an iconic brand? It has huge traction in the public mind, which can amplify both its successes and its failures. When it does well, everyone notices – but when it reports disappointing results, and the share price plummets, the story is all over our TV screens. And that doesn’t [...]
Stuart Rose faces huge protest vote July 7, 2008 Up to 30 per cent of Marks & Spencer shareholders angry at Rose’s power grab Marks & Spencer is bracing itself for up to a third of its investors to abstain or vote against Sir Stuart Rose’s controversial plans to hold both chairman and chief executive positions at the retailer’s annual general meeting on Wednesday. [...]
M&S readies for investor protest vote July 4, 2008 Four large investors in Marks & Spencers are planning to vote against the retailer’s annual report and accounts at its annual meeting next week over concerns about Sir Stuart Rose’s dual role as executive chairman and chief executive. Three pension schemes – The Universities Superannuation Scheme, Railpen and APG, and the Co-operative Insurance Society, who [...]
Rose’s future on the line as sales decline July 3, 2008 Marks & Spencer boss Sir Stuart Rose faces the battle of his life next week as he explains to shareholders, already angry about his cavalier approach to corporate governance, the reasons for its rapid sales decline. M&S shares crashed more than 24 per cent as stunned City analysts slashed their forecasts after the retailer said [...]
Double dose of corporate woe leaves City investors reeling July 3, 2008 The city was left reeling yesterday after retail giant Marks & Spencer issued a shock profits warning and Britain’s largest housebuilder Taylor Wimpey admitted it had been unable to secure £500m in funding. The bleak news from M&S, an industry bellwether, that the consumer downturn was likely to be “longer and harder fought” than previously [...]
On top of the world October 21, 2005 Retail may be struggling, but Philip Green has just taken a £1bn dividend. Is he embarrassed? Not much. Displaying the timing for which he has become famous, retail entrepreneur Philip Green paid himself a whopping £1.2bn dividend from his retail chain Arcadia. At a time when retailers nationwide are struggling, Arcadia announced a 10.1 per [...]