M&S readies for investor anger on pay July 4, 2010 A STRONG set of first-quarter figures from retail bellwether Marks and Spencer this week looks set to be overshadowed by animosity at the firm’s annual shareholder meeting, with investors set to clash with executives over the eternally thorny issue of pay. Sir Stuart Rose will officially hand over the chief executive’s reins to ex-Morrisons man [...]
Marks and Spencer July 4, 2010 FITTINGLY for a general retailer, Marks and Spencer’s first quarter results on Wednesday will be something of a mixed bag. Analysts are expecting food sales to be up by around 1.5 per cent, with sales of clothes and general merchandise up by 3.7 per cent. But it’s worth remembering that the comparatives are pretty forgiving: [...]
THE TIPSTER July 4, 2010 GOLD took a spectacular tumble at the end of last week, falling to as low as $1,196 at one point on Thursday. There were rumours that the fall was caused by some funds liquidating long gold positions to fund margin calls in other products such as equities; and the dollar took a hammering. The $1,196 [...]
ANALYST VIEWS: DO DEBENHAMS’ FIGURES REPRESENT PROGRESS? July 1, 2010 KEITH BOWMAN | HARGREAVES LANSDOWN As with the broader market, investor nerves are being tested – same store sales have fallen, whilst management comments express caution for the consumer outlook. Nonetheless, the group’s ‘self help’ initiatives remain ongoing, while news in relation to a refinancing is positive. Debenhams appears to have a growth strategy. CAROLINE [...]
The classic, lightweight summer look July 1, 2010 AMONG the less heralded achievements of the Victorians was the invention of the male linen suit – heavy wool was hardly the material in which to go lording it over the colonies. Still a summer staple, the linen suit’s trump card – other than the fact that you can wear it in hot weather without [...]
Tui finance boss linked to M&S June 27, 2010 Tui Travel’s finance director, Paul Bowtell, has been linked to a board position with retailing heavyweight Marks & Spencer. Bowtell, who has previously done stints with British Gas and BG Group, is understood to have held talks with M&S about the upcoming finance director vacancy following Ian Dyson’s shock resignation, which came just days after Marc [...]
BEST OF THE BROKERS June 27, 2010 MARKS & SPENCER UBS maintains a “buy” recommendation for Marks & Spencer and said that it forecasts first quarter like-for-like growth of three per cent in general merchandise and 1.5 per cent in food. UBS said the consensus may be a little higher and that there may be an Easter impact as last year’s first [...]
Manage your risk when trading the markets June 24, 2010 For many years, trading the financial markets and spread betting in particular, was felt to be the reserve of City professionals. But advances in technology over the last decade or so and an increased awareness of the impact that the gyrations of financial markets can have on our everyday lives have meant that financial trading [...]
Budget brings down bank shares but delay in VAT rise gives retailers a boost June 22, 2010 WEAKER commodity stocks pulled Britain’s top share index lower yesterday, while retailers got a lift from the first emergency Budget from Britain’s new coalition government after an expected valued added tax rise was delayed. At the close, the FTSE was down 52.1 points, or 1.0 per cent, at 5,246.98, having hit its highest closing level [...]
Sainsbury’s supermarket to shuffle top jobs June 21, 2010 J SAINSBURY became the latest supermarket to shuffle its management team yesterday, in an attempt to cement its plans for long-term growth. The UK’s third-biggest grocer has promoted chief financial officer Darren Shapland to the post of group development director, overseeing business development and group strategy. Mike Coupe, currently trading director, will become the group’s [...]