Topshop seals US future with J Crew owner December 4, 2012 RETAIL magnate Sir Philip Green is close to selling a stake in his family’s fast-growing Topshop fashion empire to a US private equity firm. Sir Philip is in advanced talks to sell up to 25 per cent of his family’s interest in high street labels Topman and Topshop, in a deal which values the two [...]
Christmas countdown for rival high street retailers December 4, 2012 AS we move into the final countdown to Christmas, our high street department stores are pulling out all the stops. Looking back over 2012, the race between Marks & Spencer and John Lewis has never been tighter. YouGov’s BrandIndex highlights how the two brands began the year with six points separating their Index scores – [...]
Pension deficits cost investors November 28, 2012 MARKS and Spencer has done an impressive job of cleaning up its pension deficit, knocking off £1bn over the last three years. It has now agreed a ten-year plan to deal with the remaining £290m. That saw a bump in the share price, which some attribute to the greater attractiveness of Marks and Spencer as [...]
M&S cuts pension funding costs after narrowing deficit by 80pc November 28, 2012 SHARES in Marks and Spencer were given a boost yesterday after the retailer announced yesterday it had agreed on a cheaper funding plan after slashing its pension deficit by nearly 80 per cent since 2009. The group said the latest actuarial valuation of its UK defined benefit pension scheme, which takes place every three years, [...]
M&S boss fights back after half year improves November 6, 2012 MARKS & SPENCER chief executive Marc Bolland yesterday asked for “a little patience” before seeing a turnaround in its troubled womenswear division and defended his strategy as the group revealed a 10 per cent fall in half year profits to £289.5m. The Dutchman, who is 18 months into a five-year plan to revive the group’s [...]
FTSE 100 lifted by strong results from Marks & Spencer and G4S November 6, 2012 BRITAIN’S blue-chip stock index rose yesterday, buoyed by some encouraging earnings reports in light trade ahead of what is expected to be a close US presidential election result. The FTSE 100 was up 45.84 points, or 0.8 per cent, at 5,884.90 by the close, remaining within the tight 200-point range it has held since September. [...]
After its profits once again disappoint, can Marks & Spencer return to its former glory? November 6, 2012 YES Rafael Gilston Marks & Spencer sits squarely in the mid-market. Because of this, it’s under constant attack from more specialist brands like Next (for families), John Lewis (for labels), Zara (for the career woman) and even New Look (for teenagers and young adults). The historical legacy of the Marks & Spencer brand is that, by [...]
M&S posts slide in profits November 6, 2012 Retailer Marks & Spencer posted falling profit in the six months to September, hurt by low consumer confidence. Pre-tax profit came in at £290m for the group, down from £307m over the same period last year. Britain’s biggest clothing retailer said this morning that recent trading had been “volatile”, making it cautious about the outlook [...]
M&S chief to report drop in half-year profit November 4, 2012 MARKS & Spencer’s chief executive Marc Bolland is expected to come under renewed pressure this week as the retailer admits to falling first half profits for the second time in two years. Bolland, who has been at the helm of the FTSE 100 retailer for two years, is expected to announce interim pre-tax profits of [...]
M&S to launch four overseas sites October 30, 2012 ■ Marks & Spencer is to step up its international growth plans with the launch of four new foreign language websites next month. The retailer revealed that it will expand online in Germany, Spain, Austria and Belgium on 19 November after opening its first two overseas sites in France and Ireland in the past year. [...]