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 [...]
Will M&S sharpen up its fashion arm? Analysts forecast profit rise as chief Steve Rowe expected announce a bumpy road to recovery May 23, 2016 Marks and Spencer may want to give its clothing lines a makeover as analysts predict a rocky road to recovery. The 132-year old retailer, which has seen its fashion division fall out of favour with the public in recent years, is expected to report a two per cent rise in pre-tax profits, but analysts suggest that [...]
These are the UK’s most attractive employers May 13, 2016 Rolls Royce has topped a list of big companies that Britons want to work for. The automotive aerospace giant fared well on criteria such as salary and employee benefits, long-term job security and a pleasant working atmosphere. British Airways and Marks & Spencer took second and third place respectively, followed by car companies BMW and Jaguar Land [...]
Marks & Spencer unveils shake up of management team May 12, 2016 Marks & Spencer has revealed a shake up of its senior management team "to drive speedier decision making and move the business closer to its customers". Patrick Bousquet-Chavanne is becoming executive director of customer, marketing & M&S.com, taking on new responsibilities for M&S.com and the retailer's CSR initiative Plan A. It is not clear what will happen [...]