Fears for UK economy knock FTSE lower in volatile trading November 16, 2011 AFTER yet another rollercoaster session, Britain’s top share index ended a touch lower yesterday, as upbeat US economic data proved a welcome distraction for investors gripped by concern over the UK economy and Europe’s debt crisis. The UK benchmark closed down 8.42 points, or 0.2 per cent, at 5,509.02, after a session in which it [...]
CITY MOVES | WHO’S SWITCHING JOBS November 9, 2011 DLA Piper Tony Angel, the former firm-wide managing partner of Linklaters, has joined DLA Piper as global co-chairman and senior partner of the international law firm. He will serve alongside global chairman Francis B Burch Jr and work with the firm’s chief executives Sir Nigel Knowles and Lee I Miller. Following his tenure at Linklaters [...]
M&S predicts shoppers will flock at Xmas November 8, 2011 MARKS & SPENCER yesterday revealed a fall in first half profits after it chose not to pass on the full extent of spiralling costs to cash-strapped shoppers and battled with a “challenging” economic environment. Britain’s biggest clothing retailer reported underlying pre-tax profits of £315.2m in the six months to 1 October, 10 per cent lower [...]
CITY VIEWS: WILL MARKS & SPENCER STILL BE A MAINSTAY OF THE HIGH STREET IN 20 YEARS ? November 8, 2011 ANDREW BALLIE | KENEXA “Yes. The brand is strong and there is such loyalty among its customers. It defines retailing for the middle class – it even defines the food they eat” DAVID PHILLIPS | LLOYD’S OF LONDON “In 20 years, shopping will be done online and in out-of-town centres. If M&S can keep up [...]
Here is the Next step for Marks & Spencer to take November 8, 2011 TWENTY years ago, the UK was in recession and Marks & Spencer had just changed its boss: some things never change. Under Rick Greenbury, M&S went on to have a good 1990s, before over-expansion led to the inevitable and painful correction, under a new management team. Twenty years on, the competition is much tougher and [...]
M&S profits fall by 10pc November 8, 2011 Marks & Spencer posted a 10 per cent drop in first-half profit after second-quarter underlying sales fell for the first time in two years, underscoring the pressure on UK consumers. The 127-year-old group, Britain’s biggest clothing retailer which also sells homewares and upmarket food, said on Tuesday it made a profit before tax and one-off [...]
THE WEEK AHEAD November 6, 2011 COMPANY NEWS ● Today, Rentokil Initial announces. The global business services company – which is active in Europe, America, Africa and Asia – will be looking for results that aren’t a pest. ● Tomorrow, Vodafone and Marks & Spencer both announce. The former is the world’s largest mobile telecommunications company, and the latter is the [...]
THE TIPSTER November 6, 2011 IT HAS been a tough year for retailers, in particular clothing retailers, who’ve been subjected to not only weakening consumer demand, but also higher cotton prices. With the share price down some 15 per cent so far this year, investors will be hoping that Tuesday’s numbers might spark something for Marks and Spencer. Capital Spreads [...]
BEST OF THE BROKERS October 26, 2011 RECKITT BENCKISER Citi rates the household goods maker “buy” with a target price of £40. The broker has cut its forecasts for the firm to reflect higher than expected Medicaid rebates, offsetting expected rises in organic growth. However, Citi continues to see the valuations for the firm as compelling, with the stock currently trading on [...]
Greencore gets takeover interest October 25, 2011 Shares in Irish food group Greencore jumped almost 10 per cent yesterday after it revealed a preliminary takeover approach from an unnamed company. Greencore, whose merger with Northern Foods fell through in March, bought rival Uniq in July to improve its ties with Marks & Spencer. The maker of Weight Watchers meals and Bisto gravy [...]