M&S Christmas trading blighted as clothes sales continue to fall January 9, 2014 No belated Christmas cheer for Marks and Spencer – the group's just reported that like-for-like sales in the 13 weeks to 28 December were down 2.1 per cent. The quarter, it said this morning, was a challenging one, and performance was below expectations. Sales in general merchandise, which includes clothes, fell for the tenth quarter [...]
M&S investor piles pressure for cash return January 7, 2014 MARKS & Spencer shareholders are putting pressure on the high street retailer to buy shares or increase its dividend, as the City braces itself for a gloomy trading update tomorrow. One top 20 investor told City A.M. “There is some pressure on management somewhat given that we are at the end of the turnaround strategy [...]
Marks & Spencer hit by analyst downgrades to profit forecasts January 6, 2014 MARKS & Spencer was dealt a further blow after two city brokers slashed their full-year profit forecasts for the embattled retailer, sending shares lower yesterday. Analysts at house broker Citigroup cut their full-year profit forecast by £10m to £630m after a gloomy trading statement from rival Debenhams last week, and amid fears of heavy discounting [...]
M&S sales lose their shine after poor Christmas January 6, 2014 MARKS & Spencer is set to report poor festive trading this week as heavy discounting activity in the run-up to Christmas failed to spark a late surge in spending. Analysts predict the retailer will report a drop in third quarter general merchandise sales of as much as 1.5 per cent, despite a highly publicised revamp [...]
Bottom Line: From wardrobe staple to the bargain bin January 6, 2014 AS WE wait for the Marks and Spencer Christmas trading figures later this week, expectations are that its fashion sales won’t show much sign of festive cheer. If so, it needs to start the new year with a long, hard look in the mirror. It is true that general conditions won’t have helped: figures from [...]
The year in preview: Our in-depth guide January 5, 2014 City A.M.’s journalists take a wide-ranging look at what 2014 has in store for the world of finance and business BANKINGRestoring faith means costly overhaulsA CAUTIOUS optimism pervades the British and European banking system at the start of 2014. The incoming economic recovery is at last improving customers’ creditworthiness, while the hard work running down [...]
High street kicks-off sales frenzy ahead of Christmas December 19, 2013 DISCOUNTING activity in the crucial run-up to Christmas has begun in earnest as new figures out yesterday showed that nearly three quarters of retailers were now holding sales in a last-minute bid to win over shoppers. PwC said 72 per cent of the 100 high street retailers surveyed were now on sale or holding promotions [...]
Analysts cut forecasts amid fears discounts will hurt profits December 18, 2013 MARKS & SPENCER and a raft of other major high street names were hit by downgrades from analysts yesterday amid fears that discounting and low wage growth will take its toll on spending this Christmas. HSBC and Oriel both slashed their forecasts for M&S yesterday, warning that weak consumer confidence and further promotional activity was [...]
Inside Track: My top tip for 2014: Deutsche Post will buy Royal Mail December 18, 2013 IT wouldn’t be the final column of a calendar year without some predictions for the next 12 months. Here are my top three: Royal Mail will complete a journey from being wholly-owned by the UK state to wholly-owned by a German enterprise within little more than 12 months. Deutsche Post won’t get it delivered cheap, [...]
Asos and M&S downgraded by UBS. Here’s why December 18, 2013 Some sobering news for UK clothes retailers this morning, as UBS cut its ratings for both Marks and Spencer and Asos from 'buy' to 'neutral'. M&S is trading in the red, having shed over four per cent to 434p, and is topping the FTSE 100's biggest fallers this morning. UBS said: We cut our forecasts [...]