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 [...]
Freight demand hurts Wincanton November 7, 2013 WAREHOUSE and freight provider Wincanton yesterday reported a two per cent dip in revenue as demand from the UK retail sector continued to remain sluggish. The company, which caters to clients such as Unilever, Tesco and Marks & Spencer, said sales fell to £542.3m in the six months to the end of September, from £551.2m [...]
Inside Track: Carney must act to stop new EU rules hitting UK banks November 6, 2013 Well that didn’t last long. Optimism about a rapprochement between the Bank of England and major international banks has had the City bewitched since Mark Carney’s intervention last month to relax liquidity rules, marking a distinct break with the approach of his predecessor, Lord King. It may not be quite that straightforward: two subsequent developments [...]
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 [...]
Brand Index: Consumer spending pressures also in play on the high street November 5, 2013 MARKS & Spencer’s ninth consecutive quarter of falling sales is set to put further pressure on CEO Marc Bolland, who has argued that recent improvements to the fashion business have been “well-received” by customers, but that high-street spending has yet to catch up with the wider economic recovery. So is this an economy problem, or [...]
Bank of England hires Barclays economist to join forecast team November 5, 2013 THE BANK of England said yesterday that it had appointed Barclays’ chief UK economist, Simon Hayes, to head its economic forecasting team. Hayes, who worked at the Bank for eight years before joining Barclays, will be responsible for drafting the central bank’s quarterly economic forecasts and will report to BoE chief economist Spencer Dale. No [...]
M&S sales continue to fall as Bolland has to hope for tenth time lucky November 5, 2013 Marks and Spencer has said this morning that its transformation is on track, although profits were 8.9 per cent lower at £261.1m during the six months to the end of September – the company's ninth reported loss. (Release) Analysts had predicted a 12 per cent decline in profits for the first half of the year, [...]
M&S’s new ad campaign will struggle to reverse slumping fashion sales November 5, 2013 YOU CAN visualise the meeting at Marks & Spencer’s headquarters when its new campaign, advertising its make-or-break Autumn collection, was finalised. An ad agency suggests the idea of female empowerment and the boardroom battleground. Any actual brand idea is forgotten, as the rolodex spins and agents are called. Actress Helen Mirren, artist Tracey Emin, author [...]