High Street retail race: Marks and Spencer predicted to overtake John Lewis by 2026 February 8, 2023 Marks & Spencer will overtake John Lewis in the rankings of the UK’s biggest retailers by 2026, according to a new sales forecast. Tesco will retain its position as the largest retailer, followed by Sainsbury’s, but Amazon is on track to move into the top three within the next few years, industry title Retail Week [...]
Marks and Spencer’s chairman Archie Norman: Plans to ease post-Brexit trade ‘overbearing and baffling’ January 26, 2023 Marks & Spencer’s chairman has become the latest business leader to criticise the Government’s economic policy, with Archie Norman calling plans to ease post-Brexit trade “overbearing” and “baffling”. Norman, who is also an ex-Conservative MP, has urged the Foreign Secretary during talks with the EU not to consider separate labelling for goods sold in Northern [...]
British retailers cheer Christmas sales, but City analysts warn of coming storm January 15, 2023 Britain’s largest retailers kicked off 2023 strongly last week, posting better than expected Christmas sales, signalling the consumer is holding up a bit better than feared. Tesco’s like for like sales were 7.9 per cent higher, while Marks and Spencer pocketed a 7.2 per cent rise. Sainsbury’s also posted record Christmas sales. Those bumper numbers, [...]
FTSE 100 close: ASOS and Centrica pop to crystalise strong start to 2023 January 12, 2023 London’s FTSE 100 built on gains yesterday that propelled to its highest level since 2018 after a series of British bellwether retailers posted a decent set of results this morning and the owner of British Gas skyrocketed. The capital’s premier index closed up 0.89 per cent at 7,794.04 points, while the domestically-focused, mid-cap FTSE 250 [...]
Marks & Spencer’s top 10 festive favourites: slow-cooked turkey, shortbread snow globes, light-up gin and shapewear to hold it in! January 12, 2023 Marks and Spencer saw a record Christmas trade during the latest festive period, with a record £80m sales alone on 23 December, the last Friday before Christmas. Incoming CEO Stuart Machin can also take comfort in a 7.2 per cent rise in the clothing and home category to £3.6bn. But it was the retailer’s Christmas [...]
This isn’t just a good Christmas: M&S retains ‘top turkey’ title as festive sales spike January 12, 2023 Once-troubled M&S continues to deliver positive news to investors with turkey sales helping give the firm a healthy Christmas period
Retailers balance ‘sadvertising’ and festive joy in this year’s Christmas adverts November 13, 2022 Retailers have faced pressure this year to put out adverts that not only have a feel good factor, but also do good. Against the backdrop of a gloomy winter, where many families will be forced to cut back on Christmas celebrations and gifts in order to keep the fridge stocked and heating on, getting the [...]
Marks & Spencer profit dented as Ocado joint venture books £0.7m loss November 9, 2022 Marks & Spencer’s half-year profit slid on Wednesday after it said its joint venture with online grocer Ocado had suffered a £700,000 loss. In half-year results to 1 October, M&S said its group profit before tax was £205.5m, versus a £269.4m sum the previous year. Bosses pointed to a lack of business rates relief compared [...]
‘Commercial fact’ M&S may leave Oxford St location if not able to raze Art Deco store October 25, 2022 Plans to demolish a flagship M&S store come as Oxford St is “failing” within the retail sector, the supermarket’s lawyer told a landmark public inquiry this morning. M&S is embroiled in a battle with heritage campaigners over plans to raze its Art Deco store in the West End, with ambitions to create a new 10-storey [...]
M&S to speed up plans to close 1 in 4 larger clothing stores October 12, 2022 Marks & Spencer will accelerate its plans to slash the number of its larger stores that sell clothing and homeware products. In an update to investors on Wednesday, the supermarket revealed it would shutter more than one in four of its so-called full-line stores within three years rather than five. Plans also include the opening [...]