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especially for you Neil, £2.25 by the end of '21. As an aside when I make an Ocado order there are rather too many MKS items 'out of stock'. JJ
The new year high is good JJ. I was expecting something a lot more appetising!
Neil, I saw it as a good week, we hit 162p. You know full well that we have to exercise patience. People are out there shopping at MKS, the picture is improving daily for me. JJ
Disappointing week!
Let’s hope this can get above 160 at close.
Another day of very low traded volume!
And don’t forget primark have no digital online for clothing. M&S online clothing has enjoyed very strong sales!!! So much so it’s converting more distribution warehouse picking space!!
Primark is a strong indication for the city on basic clothing LfL sales.
Hence the reaction to retailers today, as most supermarkets also have clothing and is usually around 7% of total supermarkets sales ex VAT.
What the city however is deliberately ignoring is supermarkets and M&S didn’t really close their clothing did they!
Tomorrow will be much better!
I got all excited yesterday ! Today we're giving it all back!!!
That'll teach me!
Dagger
It’s going to be a good day tomorrow!!
Primark parent company AB Foods has said it will repay £121 million in furlough money claimed under government job retention schemes and pay.
This is making City nervous about M&S business rate relief repayment and what that will do to cash flow.
Companies would not be handling gov cash back if they didn’t intend to give a dividend.
M&S do intend to give a divi in 2021/22 at c. 4p as per the analysts assumptions. Probably as a final divi.
The moral justification of not paying the rate relief money is weighing heavy no doubt on M&S
Only volume gets in the way of this equity! Volume !
And the Primark!
The group’s revenue fell 17% to £6.3bn ($8.8bn) and operating profit was down 8% to £320m.
Adjusted operating profit was 46% lower, at £369m, because of the majority of Primark stores around the world closed for a big chunk of the period.
ABF Agro food core business was up 30% and without this it would not be in a position to hand back money to the government at all.
Yes, its the acid test now for High Streets around the country over the next few months.
My guess is that the picture will be very mixed.
We will see the larger centres quickly getting back up to speed - such as Oxford Street, Westfield, Brighton, Bournemouth etc and the out of town stores also doing well.
The smaller High Street's that have lost their Department Stores and chains are I think on the extinction list, by the summer it will be clear which ones these are. M&S Management will be then be able to announce closures for stores in these locations.
Hi DaggerMal, Good thanks hope you too!
Great it’s passed the 160-161, next area could be 175-183
Fingers crossed we get up in 180’s before 25 May just ahead of numbers on 26th.
High streets are twice to three times normal footfall! Yet fewer shops to chose from.
Good luck
Hi Neil
Well done on the 115%. I'm a more modest 55%. Very nice.
I'm hoping for 1.75 by end June. Any ideas if your charts support that?
Hope you're well and the planting is going ok.
DaggerMal
Hope we can hold this 52 week high today and then who knows ! Nearly touching the £3.2b macap which is really encouraging!
Well done all! I’m showing +115% on this one!
Wrecking ball and putty to move this SP over 160 it’s tough going through this barrier! Everyone heave!!!
This is all about H2 ..has been challenging without a doubt ....but H2 should be where things get going properly...and into 2022
Some excellent comments Neil..largely agree with you...bottom line profit still to get there..that is for sure...but
...with continued proper decision making and some luck from things in the outside world it should make the necessary progress...patience
.. some exceptionals and costs are going to happen in H1 but we need to see the operating profit and know that is being managed correctly and tightly ..and things will move forwards ...
Nice few buys slipped thro yesterday 2x211k shares, and this AM 13-Apr-21 09:18:05 157.90 500,000 Buy* 789.50k O
Challenging 159p again which holds a barrier, interesting to see if it passes