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So when do we start seeing the move north from investment grade news then?
Marks & Spencer's credit rating has been upgraded from "junk" to "investment grade"
Marks & Spencer’s credit rating has been upgraded from “junk” to “investment grade” as the high street stalwart’s turnaround propels it back into the ranks of the UK’s top-flight companies.
Ratings agency S&P upgraded M&S to BBB-, the bottom rung on its investment grade rating scale, citing its strong sales growth and a £1 billion cut in debt over the past four years.
An investment grade rating will enable M&S, led by chief executive Stuart Machin, to borrow at lower rates of interest and attract a broader pool of debt investors.
S&P cut M&S to junk in March 2020, citing the expected impact of the pandemic on its clothing sales. However, this month, M&S reported interim pre-tax profits of £325.6 million, smashing expectations for profits of £276 million.
Amar Singh, analyst at research firm CreditSights noted that it was rare for a ratings agency to upgrade a company’s rating without first raising its outlook to “positive”, underlining the dramatic improvement in M&S’s performance.
M&S’s shares have almost doubled to 248.8p this year, valuing it at £4.9 billion. The retailer was readmitted to the FTSE 100 in August after four years in the FTSE 250.
Moody’s, another ratings agency, upgraded the M&S outlook to “positive”, but it retained a junk rating.
GREAT ADDITION AND ADDED VALUE TO M&S.
Nursery brand Mamas & Papas has opened a concession at the Marks & Spencer store at Westwood Cross.
The 1,506 sqft concession is one of five to launch in the country and stocks items including pushchairs, car seats and nursery furniture..
The new Mamas & Papas site also offers a range of in-store services such as one-to-one Buying for Baby personal shopping appointments and car seat consultations with their experts.
The store is open from 8am-8pm Monday to Friday, 8am-7pm on Saturday and 10am-4pm on Sunday.
Cheryl Mercer, store manager at Marks & Spencer Westwood Cross, said: “We’re delighted to have been chosen as the latest store to welcome a bespoke Mamas & Papas shop-in-shop, complementing our baby and kids wear offer.
“Families are such a big part of our community and we’re proud to be able to offer them a bigger, better shopping experience. We know how daunting welcoming a new addition can be, and we can’t wait to see customers faces when they visit and find everything they would expect at a Mamas & Papas store, with the added value of shopping at their local M&S.”
Nathan Williams, Chief Executive Officer at Mamas & Papas, added: “We are proud to be continuing to grow our partnership with the Marks & Spencer family as a ‘Brand at M&S’. With their focus on supporting customers throughout life’s firsts, the synergy with Mamas & Papas, as we support families through their important milestones along the parenting journey, feels like a perfect match.
“We’re excited to open our fifth M&S concession in the Westwood Cross store and to support local parents-to-be and their families.”
Mamas & Papas also has concessions in M&S Bluewater, Longbridge, Cheshire Oaks and Reading
Source:
https://theisleofthanetnews.com/2023/11/25/mamas-papas-concession-opens-at-westwood-cross-marks-spencer-store/?fbclid=IwAR3hLLKny-OctCvlY4KL9GQyX-ZK0YpGUvDdPT1zum9LHIJLQ_UvkQwACjE
I forgot the question I was going to ask, can anyone shed light on the short position, theres been a red dot above for two days but I cant see anything?
I think it's the Brokers playing mind games with their ratings, for twelve months we've seen new targets that we'd already exceeded, I think when we get another over £3 well plummet to 2. 🤫
Come Santa, get in your Austin Allegro the rally needs to start soon.
Autumn statement blues, its anyones guess how the market will react in the next 48hours.JJ
WTF...Back under £2.50.
Look MKS my Seasonal Adjustment Disorder is not being helped with your mood swings!
Take yourself into a corner, shake your head, have a quiet word yourself and have a good night sleep.
I want to see a much better attitude from you in the morning.
The bank's target prices for Asos, B&M and Marks & Spencer are 500p, 660p and 310p, respectively.
My heart did have a little flutter on a skim read as I saw mks and 500p, maybe by end of a year, short term I'll take 310p following 330p and like them guess 327p on a Friday with a 50% chance of sunshine....for now just buy what you can for tomorrow is coming.
From STUART MACHIN
Today we received confirmation that the High Court has recognised the merits of our legal challenge on Marble Arch.
Every single one of the six counts we raised has been recognised, which means our case has been approved to proceed to the next stage of Judicial Review.
We have been clear from the very start that refurbishment of the existing store is not possible, so this is only the first step in the lengthy process of overturning the government’s senseless decision to reject our Marble Arch proposal – the only retail-led regeneration on Oxford Street.
With the investment and amazing plans we have to transform the site into a modern, sustainable building, it remains bewildering that we are again having to go through all of this after two years of support and approvals.
But we will do everything necessary to secure a better future at Marble Arch for our local customers, our colleagues and our community.
An interesting week in store, will the Autumn statement prove to be the end of this Government, or will it excite investors and voters alike. Lets hope the Chancellor gets it right. JJ
Thank you for obliging.
Up 6.7p on the week with a 1p divi thrown in as a bonus and new high set, not bad at all. 4% next week and 265?
Have good weekend all.
Retail sales can be largely explained by the poor weather in October. The oldies are expecting their £500 winter fuel payment now so fully expect sales to go through the roof for M&S. JJ
Retail sales figures for October disappointed @ -0.3%
Can we finish blue?
Sorry, can we finish blue please.
Additionally the ex divi date was 16-11-23 so value of divi 1p been wiped off
Moody’s upgrade from stable to positive, is not investment grade!
So profit taking.
Would be better if it came with a date. 🤞
And a target of 330p, it has to be helpful. JJ
Hotel chocolate takeover shows how much British retail is currently undervalued. Continue to hold here. £3 soon
Fforestgwmp, you asked for 1% per day on the 13th. The SP gods have obviously listened.
The Remarksable train is on track and keeps on rolling. All aboard...................................