Bond says no to M&S role October 1, 2009 ASDA chief executive Andy Bond yesterday ruled himself out of the running for the top job at high street retailer Marks & Spencer (M&S). Bond said: “I am not interested. I am not going to M&S. End of story.” M&S has said it will appoint a new chief executive next year, with Sir Stuart Rose [...]
M&S thanks its Wise Buys for a revival September 30, 2009 MARKS & Spencer, the high street bellwether, yesterday unveiled better-than-expected results which the City took as encouraging signs the worst may be over after 18 tough months for the retailer. M&S said group sales had lifted by 2.7 per cent in the 13 weeks to 26 September, and while like-for-like sales dipped 0.5 per cent, [...]
CITY VIEWS: HAS MARKS & SPENCER LOST ITS SPARK UNDER THE STEWARDSHIP OF SIR STUART ROSE? September 30, 2009 STEPHEN FOSTER CHAPMAN BATES“It’s a bit dated, the sort of place I’d expect my Mum to go. There are so many brands around that it’s hard for them to compete. I would only go there for a suit, not casual clothes. I still think of it as being good quality, but they seem scared of [...]
FTSE100 ends its best ever quarter with profit taking September 30, 2009 THE top share index closed lower yesterday with energy stocks, banks and miners among the biggest laggards on the last session of a record quarter. The FTSE 100 closed down 25.82 points, or 0.5 per cent, at 5,133.90 as investors locked in profits after the index put in its best quarterly performance since it was [...]
THE LONDON REPORT September 27, 2009 After the recent mixed performance from the High St, all eyes will be on Marks & Spencer on Wednesday as it reports its second-quarter sales. The company’s shares have added 16 per cent over the past three months, and a less-than-positive update could lead to a bit of profit taking on the day. Societe Generale [...]
Waitrose draws up plans to open 300 small stores September 24, 2009 UPMARKET grocer Waitrose yesterday unveiled plans to take a bigger share of the convenience store market, saying it could open up to 300 smaller format stores, stepping up its challenge to top end rival Marks & Spencer . Waitrose, part of the employee-owned John Lewis Partnership, also said it would open more stores in motorway [...]
Rip Van Winkle to see off Delegator in Queen Elizabeth II Stakes duel September 24, 2009 GODOLPHIN and Ballydoyle go head-to-head again in the Queen Elizabeth II Stakes, tomorrow’s Ascot feature, and I fancy Aidan O’Brien’s RIP VAN WINKLE to win his battle with Delegator. The pair of them stand head and shoulders above their opposition in what really is an old fashioned duel. However, at a best priced 10/11 with [...]
CITY MOVES WHO’S SWITCHING JOBS September 22, 2009 Securities and Investment InstituteThe SII has appointed John Nichols, a former ambassador to Switzerland, as its new director of global business development. Nichols, 57, has spent 30 years in the Foreign Office, holding senior positions in the UK, Brazil and Bangladesh and as ambassador to Switzerland, Hungary and Liechtenstein. He was also previously deputy chief [...]
BEST OF THE BROKERS September 21, 2009 MARKS & SPENCERSociete Generale raised its top-end-of-consensus current year pre-tax profit forecasts for Marks & Spencer by 10 per cent, to £654m. The broker increased its target price to 500p and has a “buy” rating on the stock, following the firm’s trading statement last week. WHITBREADGoldman Sachs removed Whitbread from its “conviction buy” list after [...]
M&S searches for next Rose September 20, 2009 Marks and Spencer yesterday hit back at claims that shareholders were wary of an internal candidate being appointed to succeed Sir Stuart Rose. Earlier this month Rose’s key ally and food boss of the retail chain, John Dixon, was elevated to the main board – suggesting to observers that he will be in the running [...]