Marks & Spencer’s share price rises after it posts first profit increase in four years May 20, 2015 Marks & Spencer has beaten expectations as its returns to profit growth – but its full year results show a mixed performance across the group. Nevertheless investors were impressed with shares rising 1.4 per cent to 593p in mid-morning trade. [stockChart code="MKS" date="2015-05-20"] The figures Marks & Spencer has beaten expectations on its underlying pre-tax [...]
Michael Spencer says EU referendum vote must not be rushed as CBI boss Sir Mike Rake gives pro-European support May 19, 2015 City veteran and top Tory donor Michael Spencer yesterday warned against rushing into a quick referendum, arguing that the Prime Minister needs time to renegotiate Britain’s relationship with Brussels. The message is at odds with pleas from key City figures, including Bank of England governor Mark Carney, to cast the in/out vote as quickly as [...]
Three things to expect from the M&S full-year results on Wednesday May 18, 2015 If City analysts are anything to go by, this Wednesday could be a good one for Marks & Spencer's chief executive Marc Bolland. The troubled high street giant is forecast to post its first full-year rise in profits for four years. M&S has invested billions of pounds trying to improve the 798-strong store portfolio, up [...]
Matalan chief Jason Hargreaves makes retailer a family affair May 14, 2015 Jason Hargreaves made a trip to Oxford Street earlier this year with his four-year-old daughter in tow. The managing director of Matalan, the out-of-town value fashion and homeware chain founded by his father, John Hargreaves, 30 years ago, came to view its first ever central London store at the east end of on Oxford [...]
Early bloom for Chelsea Flower Show as dress of delphiniums, hyacinths and roses hits London May 11, 2015 The RHS Chelsea Flower Show is always a big event for the City, with ex-Marks and Spencer boss Stuart Rose, new Credit Suisse chief exec Tidjane Thiam and Lord Browne just a few of the business heavyweights who have attended in the past. The 1930s-inspired dress features over 1,200 delphiniums, hyacinths and spray roses [...]
Tory MPs demand end to banker bashing: Bank levy debate hots up after historic Conservative election victory May 11, 2015 Conservative MPs and senior City figures want the new government to rein back punitive taxes aimed at banks and avoid weakening one of the UK’s most competitive industries. Shares in banks jumped on last week’s unexpected election result. Defeated Labour leader Ed Miliband had threatened major hikes to the bank levy, more bonus taxes and [...]
Cannock Chase can see off Huxley rivals May 6, 2015 BILL ESDAILE PREVIEWS DAY TWO OF CHESTER’S MAY MEETING SIR MICHAEL Stoute hasn’t quite scaled the heights that we have come to expect over the past few seasons, but four winners at Royal Ascot last June secured him the top trainer award at the meeting and he has a powerful squad for this campaign. He [...]
Andy Harrison’s Whitbread exit dents shares April 28, 2015 SHARES in Whitbread slipped 2.5 per cent last night after Andy Harrison announced plans to step down following five years as chief executive in which pre-tax profits have surged by more than 220 per cent. The Costa Coffee and Premier Inn owner has seen its market value grow fourfold to almost £10bn since Harrison joined [...]
Marks & Spencer’s share price jumps as retailer finally breaks 14-quarter decline in general merchandise April 2, 2015 The numbers Marks and Spencer has recorded its first growth in general merchandise – the division heavily focused on clothing – in 14 quarters. The like for like growth of 0.7 per cent for the three months to March 28 brings to a close a two-and-a-half-year downwards spiral that has plagued chief executive Marc Bolland's tenure. [...]
Marks & Spencer patches up sales at clothing arm March 29, 2015 Marks and Spencer is expected to report an improvement in sales at its general merchandise arm as the retailer recovers from its recent warehousing debacle and thanks to fewer clothes being left on the shelves. Citi, joint broker to M&S, expects the high street chain to report a 0.1 per cent decline in underlying sales [...]