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 [...]
M&S to reveal fresh slump in fashion sales November 4, 2013 MARKS & Spencer will reveal how its revamped clothing range is faring tomorrow, with the City braced for another drop in sales. Chief executive Marc Bolland, who has pledged to turn around the general merchandise branch of the business, is set to reveal a ninth straight quarter of falling like-for-like sales as well as a [...]
London Report: Recovery looks on track in busy reporting week November 3, 2013 SERVICES figures due out this week, plus the latest updates on industrial and manufacturing production, look set to show continued recovery for the British economy. “September’s industrial production figures are likely to show that overall output partially recovered from its surprise 1.1 per cent monthly fall in August,” said Martin Beck, of Capital Economics. “Manufacturing [...]
Quintain launches London’s first designer outlet village in Wembley October 24, 2013 HUNDREDS of shoppers made their way to Wembley yesterday as London’s first designer outlet village offering discounts of up to 70 per cent on top brands opened its doors. The 280,000 square feet shopping centre, which has over 70 shops including Marks & Spencer, LK Bennett and Nike, forms part of developer Quintain’s wider 85-acre [...]
M&S to ramp up its Simply Food store openings October 22, 2013 MARKS & Spencer is set to expand its fast-growing food business by opening 150 Simply Food stores in the UK over the next three years. Speaking at an investor day yesterday, M&S’s executive director for food Steve Rowe said half of the new openings will be in high street or out-of-town locations with car parks, [...]