Marks & Spencer’s share price climbs as chief executive Marc Bolland leaves and Steve Rowe replaces him as trading slumps again January 7, 2016 Marks & Spencer's share price climbed this morning, after revealing chief executive Marc Bolland is leaving the company after yet another period of poor performance. Bolland will be succeeded by Steve Rowe, executive director of general merchandise. He will remain as chief executive and on the board until 2 April, and will remain "available" to Rowe during the handover [...]
Steve Rowe: Everything you need to know about the man replacing Marc Bolland at Marks & Spencer January 7, 2016 Marc Bolland is out. After months (if not years) of shareholders and analysts calling for him to leave Marks & Spencer, the former Morrisons man is hanging up his hat on 2 April. Bolland is handing over to Steve Rowe, an M&S lifer. But Rowe is relatively unknown to the wider world. Here's what you [...]
Next’s share price falls as retailer reports disappointing sales, with warm weather deterring shoppers January 5, 2016 High street giant Next's share price fell this morning after it reported disappointing sales in the run up to Christmas, as the warm weather took its toll alongside growing competition online. The figures Sales over the 60 days to 24 December nudged up 0.4 per cent across the group, with Next Directory growing two per cent, [...]
Warm weather to cool Christmas sales at Marks & Spencer January 4, 2016 The mildest December on record combined with intense competition on the high street is expected to spell a gloomy end of the year for retailers, with Next and Marks & Spencer the first to unveil this week how they fared over the crucial Christmas period. The wet and mild weather, security fears in the aftermath of the [...]
Who’s facing the axe in 2016? Bookmaker offers odds on CEO sackings January 3, 2016 Let's face it; everyone dreads the first day back at work. To keep stress levels especially high at the top, bookies Ladbrokes have been drawing up odds on which CEOs will be clearing their desks by the end of the year. Only two chiefs can afford to relax, according to the firm; Easyjet’s Carolyn McCall and Taylor [...]
Little festive cheer for investors as FTSE 100 finishes flat December 24, 2015 It seems Santa didn't have much in his sack for equities investors this year, after the FTSE finished the day's session flat at 6,254.64 points, just 0.22 per cent higher. It was a disappointing outcome, after the bluechip index showed signs of a late Santa rally yesterday, closing 2.6 per cent higher as mining stocks rebounded. But trading during this morning's [...]
Panic Saturday is here: 12.6m Britons hit the shops for busiest day of Christmas shopping as sales start early at M&S, Sports Direct, H&M, Argos and Sainsbury’s December 19, 2015 Brace yourselves, Panic Saturday is here. If you still haven’t bought your Christmas presents, be prepared for crowds. A stampede of last minute Christmas shoppers are bearing down on UK retailers today, making it the busiest day of this year’s Christmas shopping. 12.6 million Britons are forecast to hit the shops, spending over £1.1bn on [...]
As Apple’s iPhone 6S lands will mobile payments change the way we live? December 11, 2015 Today’s smartphones can do incredible things. Need a ride around London? Just tap the Uber app. Fresh flowers or food from a local restaurant delivered straight to your door? Try Bloom & Wild or Deliveroo. These apps are fantastic, but there's a new smartphone feature set to fundamentally revolutionise the high street and how [...]
Marks and Spencer loses appeal against former landlord BNP Paribas December 2, 2015 You know that times are tough for retailers when they are prepared to fight for every penny they could put back in the piggy-bank. Marks and Spencer (M&S) has today lost a long-running battle against its former landlord BNP Paribas after the Supreme Court dismissed its appeal to claw back £1.1m of rent it claims it overpaid. In July 2011, [...]
Marks & Spencer looks to solve legal wrangle with former landlord BNP Paribas December 1, 2015 It’s not just individuals that quibble with their landlords. Marks & Spencer (M&S) is tomorrow hoping to settle a long-running dispute with former landlord BNP Paribas over rent it claims to have overpaid on its old Paddington offices. In July 2011, the high street retailer exercised a break in its leases and served notice on four floors of [...]