London’s drinking hotspots outdid the rest of the UK in May June 16, 2016 Ahead of the annual summer drinking boom London's pubs and bars were buoyed in May, as sales at the capital's drinking holes outpaced the rest of the country. Like-for-like sales at pubs and bars in London were up 3.8 per cent, while the pub and restaurant sector as a whole grew by 0.9 per cent. "With a [...]
Horse racing betting: Hunt Cup is a Breeze for Ivory while Glory Awaits June 14, 2016 Some love them; some hate them, but working out one of Royal Ascot’s fiendishly difficult handicap puzzles rewards punters like nothing else. The Royal Hunt Cup (Wednesday 5.00pm) is possibly the biggest lottery of them all, especially when the ground is soft and the effects of the draw unclear. Sir Michael Stoute and Ryan Moore team [...]
M&S set to reveal former chief executive Marc Bolland earned over £15m June 5, 2016 Marks & Spencer are set to unveil this week that the retail store's former chief executive Marc Bolland received over £15m during his years at the company. The firm's annual report is due out later this week and will include details of Bolland's remuneration since he took the helm in 2010. Bolland resigned in January, but will receive salary, [...]
At the close: Opec uncertainty holds the FTSE 100 down June 2, 2016 What was a volatile day on the markets ended rather flat. Big European Central Bank (ECB) and Opec meetings in Vienna failed to move the FTSE 100 far in either direction and it ended down 0.1 per cent at 6,185.61 points. The ECB decided, as expected, to keep interest rates on hold. Though it did raise growth and [...]
M&S needed a roar from Rowe, but all it got was a whisper May 26, 2016 It was Steve Rowe's opportunity to deliver something big. Analysts had forecast it, and, most importantly of all, M&S' customers were expecting it. But the man from Croydon adopted the softly-softly approach that you might expect of a lifer rather than the more radical path that newcomers tend to take. There was no Dave Lewis-style [...]
Brexit worries are dampening consumer confidence, says Marks and Spencer boss May 25, 2016 Consumer confidence has been hit by uncertainty over the EU referendum and has consequences for retailers, according to Marks & Spencer boss Steve Rowe. Speaking today after Marks & Spencer posted its latest results, the company's new chief executive said short term confidence has been knocked. “Customer confidence and optimism, particularly in the short-term, in the last few [...]
M&S boss Steve Rowe: We are frustrating our customer May 25, 2016 Marks & Spencer's new chief executive Steve Rowe has admitted the company has been "frustrating" its customer with its failure to listen properly to what shoppers want – and pledged to do more to win hearts and minds. Rowe unveiled the first parts of a major strategy designed to appeal to its lost customer as the [...]
Mrs M&S: Steve Rowe’s first blunder? May 25, 2016 Marks & Spencer's new chief executive Steve Rowe has been on the front foot today, setting out his new strategy of ditching promotions and fashion-focused clothing in favour of cheaper prices and wardrobe staples. It's well needed, given that the retailer announced profits down by almost a fifth today, driven by sluggish clothing sales. Under Rowe's [...]
How do you solve a problem like M&S: What Steve Rowe is pledging to do to fix Marks & Spencer May 25, 2016 Another day, another set of terrible results for Marks & Spencer, which this morning revealed pre-tax profits had slumped by almost a fifth over the last year. As with every other update in the last four or five years, the retailer experienced strong sales in food and a disappointing in clothing. But unlike other results, today's figures [...]
Marks & Spencer profits drop by a fifth as Steve Rowe sets out plans to revive clothing business May 25, 2016 Marks & Spencer's share price fell more than 8.3 per cent this morning, despite pre-tax profits falling by nearly a fifth in the last year, as new management unveiled plans to tackle the struggling clothing division. The figures Group revenue at M&S was up 2.4 per cent to £10.6bn for the 53 weeks to 2 April, while underlying pre-tax [...]