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, [...]
M&S to open 150 new food stores creating over 5,000 new jobs October 22, 2013 Retailer Marks & Spencer has announced plans for 150 new franchise and owned UK Simply Food stores in the next three years in order "to further enhance its specialist food positioning and reduce drive times to access M&S Food". Roughly half of those stores will be of around 2,000 square feet and operated in convenience [...]
Equistone fancies French pudding maker October 21, 2013 EQUISTONE, the private equity house founded by ex-Barclays buyout executives, has taken a bite out of a French luxury pudding maker that supplies tasty treats to M&S and McDonalds. The outfit, led by managing partner Guillaume Jacqueau, has bought a majority stake in French dessert conglomerate Europeenne des Desserts (EDD) for an undisclosed sum. The [...]
Bolland loses key womenswear buyer from M&S October 20, 2013 MARKS and Spencer confirmed yesterday that one of its key womenswear executives has resigned, delivering a further blow to the chain as it attempts to repair its struggling clothing division. Gillian Ridley Whittle, development and buying director for womenswear plans to leave in six months to join Australian department store group Target. Her departure comes [...]
Public expect rate hike within two years as Bank’s Dale says one may come in 2014 October 17, 2013 The proportion of the public expecting a rise in interest rates has increased significantly according to a new poll by Markit. The poll conducted by Ipsos-MORI between 11-14 October found that 69 per cent of people asked expected rates to rise within two years, a 14 percentage point rise from the previous poll in August. [...]
Profile: Christopher Bailey October 15, 2013 WHEN Christopher Bailey emerges onto the catwalk at the end of a Burberry fashion show, the audience erupts with loud applause. However yesterday’s share price fall following his appointment as both chief executive and chief creative officer suggested a less warm reception. The 42-year-old Yorkshireman, who was described by outgoing Burberry boss Angela Ahrendts yesterday [...]
Brand Index: There’s still time for M&S’s autumn range to blossom October 15, 2013 LAST week Marks & Spencer’s general merchandise arm was dealt a blow when a number of respected analysts warned that it is continuing to lose market share in women’s fashion, leading to a fall in its share price. Autumn sales figures won’t be released until next month, but if the naysayers turn out to be [...]