Retail successes and failures in the US April 23, 2014 Primark is making its first foray into the US, which has in the past proved to be a tough market to crack and one often described as the graveyard of UK retailers. However alongside a number of failures there have been several success stories. BurberryBurberry has proved to be one of the biggest British retail [...]
Signs of life at Marks and Spencer April 10, 2014 M&S showed new signs of life yesterday after reporting sales of its womenswear clothing collection have risen over the past three months, helped by Annie Lennox as part of its star-studded Leading Ladies marketing campaign. It was the company’s best performance in three years. Homeware still remained a thorn in the group’s side, dragging overall [...]
Discounts weigh on M&S despite rise in clothing April 10, 2014 MARKS & Spencer’s revamped womenswear collection, which has been fronted by stars including Dame Helen Mirren, showed signs of recovery in the fourth quarter despite overall general merchandise sales falling for an 11th consecutive quarter. The high street giant yesterday split clothing sales from other non-food sales for the first time, revealing a 0.6 per [...]
Bottom Line: Bolland must use his breathing space wisely April 10, 2014 MARKS & Spencer’s boss Marc Bolland usually looks pretty pleased with himself, but yesterday his proud smile was somewhat justified. By posting the retailer’s best clothing performance in three years – based on an improvement in its crucial womenswear lines – Bolland has proved the critics wrong, pulling something that looks like the start of [...]
London Report: Fed’s hint on rates steadies FTSE but Marks loses Spark April 10, 2014 BRITAIN’S top share index traded just above flat yesterday, buoyed by the banking sector after the Federal Reserve indicated it would keep interest rates lower for longer than previously anticipated. The FTSE 100 was up just 6.36 points or 0.1 per cent at 6,641.97 at the close, with financial firms contributing about half the gains. [...]
Bolland’s bought more time, but what does M&S need now? April 10, 2014 The trading update from high street staple Marks & Spencer has been described by stockbroker Shore Capital as “frankly, quite mellow”. The encouraging figure was for clothing sales, which rose 1.3 per cent and 0.6 per cent on a like-for-like basis in the first quarter of 2014. The group reported sales up 1.9 per cent, [...]
What you need to know before the open April 10, 2014 Not much in the way of surprises from last night’s Fed meeting minutes. It seems officials are not in any hurry to raise rates, and markets rebounded on the news. The sell-off seen earlier in the week, though, seems to have been because of worries over pricey valuations, rather than rates concerns. According to the [...]
M&S sees clothes sales rise but Bolland still cautious April 10, 2014 A glimmer of hope for high street store Marks & Spencer. The retailer’s reported that clothing sales rose 1.3 per cent in the first part of 2014, up 0.6 per cent like-for-like. General merchandise saw group sales up a modest 0.2 per cent in the 13 weeks to the end of March, but still declining [...]
Co-op in turmoil as Myners quits April 9, 2014 THE CO-OPERATIVE Group was plunged into fresh chaos last night after the man tasked with saving the troubled organisation quit the group. Lord Myners, a former City minister, is set to resign his post as senior independent director just four months after he was appointed to lead an overhaul of the company’s bloated structure. It [...]
Inside Track: HSBC to get one over on Barclays with capture of Moreno April 9, 2014 LIKE hands-on managers who get rebranded as directors of football, senior advisers at investment banks often find their august titles are merely stepping-stones on the way to a graceful exit. HSBC’s latest recruit suggests that theory is unfounded at Europe’s largest bank. City sources say it has signed up Glen Moreno, the chairman of Pearson, [...]