World Cup 2018: Gareth Southgate and Harry Kane the biggest winners as England’s run in Russia boosts commercial appeal of key figures | City A.M. July 16, 2018 Even in defeat, there was an undeniable feel-good factor around England at the World Cup. Gareth Southgate and his team worked hard to cast aside the negativity of previous major tournaments and reach a first semi-final since 1990. And while their on-field exploits have seen them hailed as heroes, they could also lead to off-field [...]
M&S could cease to exist without radical change, warns chairman July 10, 2018 Marks & Spencer’s management confessed existential dread to shareholders today, as its new chairman warned the retailer could disappear within years if the business is not overhauled. Speaking at the company’s annual general meeting (AGM), chairman Archie Norman said: “In decades to come, there could be no M&S.” It marked a blunt first appearance for [...]
The GKN break-up is a test for Melrose, don’t bank on a tax cut and Marc Bolland is not just any NED June 29, 2018 Vultures. Asset-strippers. Corporate predators. The board of Melrose has had these perjorative labels and more thrown at it in the months since its initial bid approach for GKN. This week’s approval by the Committee on Foreign Investment in the United States of the £8bn takeover removed the final obstacle to a deal that elicited greater [...]
Is the high street really doomed? June 26, 2018 UK high street retailers have endured a torrid time over the last few years. A slew of store closures, job losses and administrations don’t make for pretty headlines, and illustrate just how difficult it is for those looking to invest in the retail sector. Discount retailer Poundworld followed electronics firm Maplin and toy retailer Toys [...]
M&S and Microsoft launch strategic partnership June 21, 2018 Marks & Spencer is teaming up with Microsoft in a bid to shake off its reputation as a digital laggard. A strategic partnership between the two companies will focus on testing the integration of Microsoft artificial intelligence (AI) tech into M&S stores and wider operations. Today’s announcement comes a day after a former M&S digital [...]
M&S should look at a tie-up with Amazon, says former digital boss June 20, 2018 A former Marks & Spencer digital boss has said that the retailer should consider a tie-up with Amazon. Amazon has been making aggressive moves into the UK’s retail sector through its acquisition of Whole Foods and a tie-up with Morrisons. It even talked to the John Lewis Partnership about a potential takeover of Waitrose, but [...]
M&S fashion brands are under threat as the struggling retailer looks to cut costs June 17, 2018 Marks & Spencer could abandon its once flagship womenswear brand as the retailer’s crisis deepens. Per Una, which generated roughly £750m for the floundering high street giant at its peak, is now one of several brands to be put under review by chief executive Steve Rowe as the company looks to cut costs. The fashion [...]
Editor’s Notes: Without the UK, the EU can resume its march to ever closer union, Nex’s Michael Spencer backs British bubbly and Lady Wilson remembered June 15, 2018 Earlier this week I chaired a discussion at TheCityUK’s annual conference, where several people, including the lobby group’s chairman, John McFarlane, stressed the point that “there’s life beyond Brexit”. It can’t be said often enough, given how much of our national attention and energy has been sucked into the black hole of Brexit: the uncertainty, [...]
Last Week in the City: Stiff competition in funerals? June 1, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (28 May to 1 June 2018). Shares in listed funeral director Dignity slumped after the UK Competition and Markets Authority (CMA) said it will examine the pre-paid funeral sector, a move that could see tougher regulation. [...]
Ocado joins FTSE 100 as Marks & Spencer narrowly escapes being kicked off May 30, 2018 Online retailer Ocado officially joined the FTSE 100 today, while embattled department store Marks & Spencer narrowly avoided dropping off the blue chip index. Ocado was promoted from the FTSE 250 in a quarterly reshuffle by index provider FTSE Russell that also saw bookmaker GVC promoted. Ocado’s FTSE jump comes after the retailer’s shares soared [...]