The Marks & Spencer AGM: Shareholders vent frustration as promises fail to deliver July 8, 2014 “We'll be home by Christmas!” That tragically optimistic prediction made by soldiers marching off to war in 1914 jumped to mind yesterday when Marks & Spencer boss Marc Bolland stood up in front of shareholders at a hall within Wembley Stadium and pledged to have the website returning to growth in time to enjoy [...]
Savvy shoppers give retailers a welcome boost despite World Cup July 8, 2014 Shoppers have boosted June like-for-like sales at high-street retailers by one per cent compared to the same period a year ago, new research out today shows. The increase is particularly significant given the World Cup, which traditionally draws shoppers, and their cash, away from the high-street. Sophie Bevan, head of retail and wholesale at BDO, [...]
Brand Index: Ashley’s Sports Direct has found the sweet spot among shoppers July 8, 2014 IN RECENT days, shareholders of Sports Direct have finally approved the retailer’s bonus scheme, after years of turning down the firm’s plans to reward founder and deputy chairman Mike Ashley. This award that could potentially see Ashley and up to 3,000 employees share £200m in equity, as long as profits double by 2019. Ashley himself [...]
London Report: Airline decline and M&S worries keep the FTSE in the red July 8, 2014 A PROFIT warning from Air France-KLM yesterday hit airline stocks and dragged the FTSE down by more than one per cent. The blue-chip FTSE 100 index fell 1.25 per cent, or 85.06 points, to 6,738.45 points. International Consolidated Airlines Group – the owner of British Airways – slumped seven per cent to 335.90p, the worst-performing [...]
M&S is having an identity crisis: Only radical action can save it now July 8, 2014 Thousands of articles have been written about, and just as many reasons given for, the ongoing struggles of Marks & Spencer (M&S). The latest one, given only yesterday by none other than the chief executive himself, Marc Bolland, was the “settling-in” period of the new website. This, of course, is balderdash, or at least peripheral [...]
Marks & Spencer website nightmare knocks share price: Here’s what the analysts say July 8, 2014 Marks & Spencer's long-awaited website overhaul has failed to perform. The company announced that online sales have dropped by 8.1 per cent in the 13 weeks to 28 June. The retailer excused the performance as a "settling in" of the new M&S.com site, which cost the company £150m. Marc Bolland, M&S chief executive, says that [...]
Marks & Spencer reports 1.5pc fall in underlying sales July 8, 2014 High street retailer Marks & Spencer has released its quarterly figures, revealing a 1.5 per cent fall in underlying sales. The results, which are for the 13 weeks to 28 June, also show that like-for-like sales of clothing fell by 0.6 per cent, marking three straight years of quarterly falls for the division. [...]
Marks & Spencer is preparing to defend clothing to shareholders July 7, 2014 Marks & Spencer boss Marc Bolland is expected mount a vigorous defence of his turnaround strategy today and insist that its clothing arm is on the mend, despite analysts expecting another fall in general merchandise sales. The retailer is likely to face a grilling from shareholders attending the annual general meeting at Wembley stadium over [...]
Apple preparing for iWatch launch with another high profile hire July 5, 2014 Apple appears to be gearing up for the impending launch of its iWatch with another high profile hire, poaching a senior executive from Swiss luxury watch brand Tag Heuer. Tag Heuer, part of luxury goods group LVMH, announced that vice president for sales Patrick Pruniaux will be leaving the company on Monday 7 July to join [...]
Employee owned businesses in the UK booming July 4, 2014 The number of employee-owned companies in the UK is on the rise, outstripping growth in all other businesses. According to a recent report, the employee-owned sector grew 10 per cent in 2012, the last period for which figures are available, compared to 3.1 per cent for all businesses. Employee-owned businesses now account for 3 per [...]