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 [...]
Quintain sees £8m profit as customers flock to new Wembley outlet village November 25, 2013 Quintain has reported half year pre-tax profits of £8.0m, from a loss of £25.2m last year. The designer outlet village at Wembley saw 350,000 visitors in its first month of opening, and the developer reported that AEG has been appointed to manage the Wembley arena. In its first phase of development, 21 per cent of [...]
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 [...]
Management: Meet national culture November 20, 2013 A new book argues that cultural values can make or break a corporate strategy AMERICA has long been seen as a graveyard for British retailers. In 2001, Marks & Spencer sold its Brooks Brothers US chain for a third of the price it paid for it. Sainsbury’s bailed out of its Shaw’s business in 2004. [...]
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 [...]
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 [...]