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 [...]
Brand Index: Never mind the hare and bear – Brits are going budget December 17, 2013 OUR RECENT online focus group of people from the so-called “squeezed middle” revealed that they are not feeling the benefits of the economic recovery and also have virtually no faith in politicians (from any political party) to help improve their lot. This week I will delve into which brands the squeezed middle are warming to this [...]
I mince pie with my little eye… December 17, 2013 This week, we salute the humble mince pie. They’re as much a part of a British Christmas as Buck’s Fizz, crackers and pigs in blankets. Here, the City A.M. team gives their verdict on the best luxury pies in the run up to the big day Konditor & Cook Mince Pie Dozen 7.8/10 With the [...]
Marks & Spencer are making all their toys gender neutral by Spring 2014 December 17, 2013 Retailer Marks and Spencer have committed to making all their toys gender neutral by Spring 2014. @stellacreasy Hi Stella, we’ve listened to customer feedback and by Spring next year all of our toys will be gender neutral. Thanks — M&S (@marksandspencer) December 17, 2013 The announcement follows Twitter complaints about their "Boy Stuff Marble [...]
Inside Track: Bank of America Merrill Lynch closes 2013 with a flurry December 12, 2013 THE timing appeared so impeccable, you almost felt it must have been staged. Just as Bank of America Merrill Lynch’s head of equity capital markets was running through a presentation on how the bank has gained market share over the year, one of the mobiles on the desk in front of him rang. With that [...]
Supermarkets grow ahead of shopping malls December 8, 2013 THE AMOUNT of space being added by UK supermarkets has overtaken that being added by shopping centres for the first time, despite some retailers calling an end to the space race as consumers shift to shopping online. The pipeline of grocery developments has grown by 67 per cent, or 19.24m square feet (sq ft) since [...]
Marks & Spencer chooses a new auditor after 87 years with PwC December 5, 2013 MARKS & Spencer has parted ways with PwC, picking a new auditor for the first time since the FTSE 100 retailer became a public company in 1926. M&S said yesterday it has appointed Deloitte as its new auditor following a competitive tender. The switch comes at a time when the close and often decades-long relationship [...]
Quintain lifted as shoppers hit Wembley outlet November 25, 2013 QUINTAIN said its new designer outlet village at Wembley has got off to a flying start with over 350,000 visitors since opening four weeks ago, as the developer reported a return to profit yesterday. Chief executive Max James, who took over from Quintain’s founder Adrian Wyatt 18 months ago, said: “We were taken aback by [...]