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 [...]
Hong Kong’s Gaw buys M&S London offices November 21, 2013 HONG KONG-based private equity firm Gaw Capital Partners and three South Korean investors have teamed up to buy the London headquarters of retailer Marks & Spencer for around $321m (£198m), adding to a string of property deals by Asian investors this year. Asian investors, including insurers and banks, are buying into European properties as a way [...]
Arcadia’s Philip Green sets up for a food fight November 14, 2013 SIR PHILIP Green is plotting to take on supermarkets and long-time rival Marks & Spencer by launching food outlets in up to 150 of his BHS stores. The retail tycoon said yesterday that he has drawn up plans for convenience food stores within BHS and will make a decision by the end of the year [...]
Bottom Line: Christmas comes early for King November 13, 2013 THEY say good things come to those who wait. Yesterday, almost a week after rival retailers Marks & Spencer, John Lewis and Morrisons released their Christmas adverts, the UK’s fastest growing supermarket revealed its own tear-jerker – a three-and-a-half minute mini-film that aired during last night’s Coronation Street. The film, which shows clips of ordinary [...]
M&S targeting booming India retail markets November 12, 2013 RETAILER Marks & Spencer is looking overseas to try to stem a steady decline in clothing sales, focusing on India to replicate a move towards more stylish fashions that has failed to convince consumers at home. Britain’s biggest clothing retailer said yesterday it planned to make India its biggest foreign market, increasing its store count [...]
M&S Indian expansion to see country become second largest market November 11, 2013 Marks and Spencer has confirmed today that it plans to build a "leadership position" in India, as part of its strategy to become a leading international and multi-channel retailer. Chief executive Marc Bolland said that India is a "priority market" for M&S. The company already has 36 stores in India and the plans will see [...]
Bottom Line: Hot competition in retail revolution November 5, 2013 PRIMARK doesn’t sell food, but if it did, it’s unlikely the range would compete with Marks & Spencer. Unfortunately for the 129-year-old high-street stalwart, its younger rival does sell clothes – a lot of them. Yesterday’s contrasting results from the two retailers were a stark reminder of just how much the British high street has [...]
M&S shares rise despite further fall in clothing November 5, 2013 MARKS & Spencer chief executive Marc Bolland said efforts put into the new autumn and winter range were showing signs of paying off, as the retailer’s decline in general merchandise sales slowed slightly, pushing shares 4.5 per cent higher yesterday. The high street stalwart reported a 1.5 per cent decline in underlying general merchandise sales [...]