WHAT THE OTHER PAPERS SAY THIS MORNING May 18, 2009 FINANCIAL TIMESCASH-STRAPPED TOURISTS AVOID SPANISH SUNBritish tourists impoverished by the weak pound, German holiday makers worried about recession and a domestic market laid low by the sharpest economic contraction for 40 years: it would be hard to imagine a worse combination for Spain’s tourism industry as bookings in many places are down by at least [...]
M&S set for dividend cut as slump bites May 17, 2009 STUART Rose, executive chairman of Marks and Spencer, will today meet with the rest of the board to discuss an expected dividend cut, a decision that could propel the group into a battle with its investors. Analysts expect M&S’ total dividend payout to be slashed to just 17.4p, a reduction of 23 per cent, just 12 months [...]
BEST OF THE BROKERS May 13, 2009 WELLSTREAM HOLDINGS“It’s grim up north” said analysts at Citigroup, as they reduced their earnings per share estimates for Wellstream by 19 per cent for 2009. The broker said that the most solid and consistent part of the business has suffered over recent months, which will lead to earnings of £7-8m this year. Citi recommends investors [...]
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 [...]