Roundtable Discussion; The Future of Mineral Sands. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksMarks & Spencer Share News (MKS)

Share Price Information for Marks & Spencer (MKS)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 258.30
Bid: 258.30
Ask: 258.50
Change: 0.00 (0.00%)
Spread: 0.20 (0.077%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 258.30
MKS Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Britain's Black Friday genie now out of the bottle

Tue, 27th Jan 2015 12:17

* 2014 saw Black Friday take off in Britain in a big way

* Retailers discounted too much and struggled with orders

* Stores planning more selected discounts for 2015

By James Davey

LONDON, Jan 27 (Reuters) - Britons literally fell overthemselves for "Black Friday" bargains in November, so retailersneed to make the discount day imported from across the Atlanticwork for the industry.

Black Friday took hold in Britain in a major way for thefirst time last year, as store groups sought to match thepromotions of big U.S. online retailers such as Amazon and use the event to kick-start interest in Christmas shopping.

But many were not prepared for the level of demand on Nov.28, which saw shoppers queuing overnight, scuffles breaking outin stores, websites crashing and delivery operations overloaded.

Not only did that frustrate customers, but it also left manystore groups selling more stock at a discount than theyintended, and then finding there was less demand for full-pricegoods in the following weeks, hitting their profit margins.

Industry data showed the extent to which the traditionalbuild up of sales ahead of Christmas was skewed. While BlackFriday drove November retail sales growth to a three month highof 2.2 percent year-on-year, December's rise of 1.0 percent wasthe weakest outcome for that month since 2008.

With customers' expectations raised, and online retailerslikely to keep up the pressure, there seems little prospect ofBlack Friday -- named after the day of the year when U.S.retailers traditionally become profitable -- fading away.

"We do not believe that the genie can be put back in thebottle," said retail researcher Conlumino.

So Britain's stores are going to have to do better, and thatmay mean learning from those that coped well, such as electricalgoods chain Dixons Carphone.

It carefully planned targeted promotions with globalsuppliers on goods such as Samsung TVs, De Longhi coffeemachines and Bose speakers, allowing it to achieve a sales boostwhile maintaining profit margins.

"I think it's here to stay. It's something that we need toplan for and get used to," said Dixons Carphone finance directorHumphrey Singer of Black Friday.

"We pretty much start planning now for this year."

COPING STRATEGIES

Dixons Carphone's success was in contrast to the experienceof many other general merchandise retailers on Black Friday.

"It caused a huge pull-forward of sales, it straineddistribution networks, it undermined consumers' willingness topay full-price at Christmas and it ruined perceptions of onlinedelivery reliability," said independent retail analyst NickBubb.

Marks & Spencer, Britain's biggest clothingretailer, was the highest profile casualty, with its hugedistribution centre in Castle Donington, central England, throwninto chaos.

Unable to cope with the spike in demand, automated pickingand packing failures delayed the delivery of goods orderedonline. Disappointed customers lambasted the firm on socialmedia and a subsequent loss of sales was a major factor in thefirm missing forecasts.

Chief Executive Marc Bolland lamented that at any other timeof year "you don't get that artificial Christmas tree, wrappingpaper and a dress together in one order."

But he knows it's the company that must adjust.

"If consumers like to shop in that way more, then asretailers we need to find answers to it," he said.

Analysts say this year retailers may put more focus onspreading the home delivery of goods ordered on Black Fridayover a longer period and on increasing the appeal of "click andcollect" services, where ordered goods are picked-up in store.

Household goods chain Argos missed Christmas salesforecasts after reining in promotions in the wake of BlackFriday. That protected profit margins but hurt sales.

Chief Executive John Walden, who as an American is a veteranof Black Friday, reckons retailers will be more selective aboutwhat they put on sale this year -- "balancing the things thatmake money versus the things that may not."

Black Friday delivered the biggest week of sales indepartment store John Lewis' 150-year history.

Its boss, Andy Street, says the event will stay but reckonsit may be tempered this year, perhaps more focused around itstraditional electricals heritage.

"Customers got a very good deal," he said. "But standingback from it all, you actually have to say: 'Is it good for theindustry to concentrate so much business in that one day andthen have a relatively flat period afterwards?' The answer isprobably not." (Editing by Keith Weir and Mark Potter)

More News
11 Jan 2024 07:01

M&S sees FY in line as Christmas sales rise 8.1%

(Sharecast News) - UK retailer Marks & Spencer said it expected to deliver annual results in line with expectations despite higher-than-expected cost increases as it reported an 8.1% rise in sales over the key Christmas quarter driven by food revenue and womenswear.

Read more
10 Jan 2024 08:49

LONDON MARKET OPEN: Grocers weigh on FTSE as Sainsbury's disappoints

(Alliance News) - Stock prices in London opened mixed on Wednesday, as investors remained cautious ahead of US inflation data, and rising geopolitical tensions.

Read more
9 Jan 2024 08:00

UK's M&S Christmas food sales growth topped only by Lidl

M&S food sales up 12.1% year-on-year in 12 weeks to Dec 30 -NIQ

*

Read more
9 Jan 2024 07:54

UK discounter B&M keeps profit outlook after Christmas sales rise

Third quarter revenue up 5%

*

Read more
8 Jan 2024 17:07

FTSE 100 lags European peers as oil drags

Shell drops; flags Q4 writedown on Singapore assets

*

Read more
5 Jan 2024 16:26

UK's Asda to match some discounter prices in push for market share

Asda to match Aldi and Lidl prices on 287 products

*

Read more
5 Jan 2024 16:02

UK dividends calendar - next 7 days

Monday 8 January 
abrdn Equity Income Trust PLCdividend payment date
Intermediate Capital Group PLCdividend payment date
Tuesday 9 January 
no events scheduled 
Wednesday 10 January 
Assura PLCdividend payment date
Bellway PLCdividend payment date
Fidelity Special Values PLCdividend payment date
LXi REIT PLCdividend payment date
Severn Trent PLCdividend payment date
Volex PLCdividend payment date
Vp PLCdividend payment date
Thursday 11 January 
AJ Bell PLCex-dividend payment date
Ashtead Group PLCex-dividend payment date
BlackRock Latin American Investment Trust PLCex-dividend payment date
CMC Markets PLCdividend payment date
dotdigital Group PLCex-dividend payment date
Ecora Resources PLCex-dividend payment date
European Assets Trust PLCex-dividend payment date
Foresight Group Holdings Ltdex-dividend payment date
GSK PLCdividend payment date
ICG-Longbow Senior Secured UK Property Debt Investments Ltdex-dividend payment date
JPMorgan Asia Growth & Income PLCex-dividend payment date
Keystone Positive Change Investment Trust PLCex-dividend payment date
LondonMetric Property PLCdividend payment date
Murray International Trust PLCex-dividend payment date
National Grid PLCdividend payment date
Primary Health Properties PLCex-dividend payment date
Sage Group PLCex-dividend payment date
Smiths News PLCex-dividend payment date
SSE PLCex-dividend payment date
Supermarket Income REIT PLCex-dividend payment date
TR Property Investment Trust PLCdividend payment date
Walker Crips Group PLCex-dividend payment date
WH Smith PLCex-dividend payment date
Worldwide Healthcare Trust PLCdividend payment date
XPS Pensions Group PLCex-dividend payment date
Friday 12 January 
3i Group PLCdividend payment date
Associated British Foods PLCspecial dividend payment date
Caffyns PLCdividend payment date
Celebrus Technologies PLCdividend payment date
Chelverton UK Dividend Trust PLCdividend payment date
CML Microsystems PLCdividend payment date
Gore Street Energy Storage Fund PLCdividend payment date
Helical PLCdividend payment date
Impellam Group PLCdividend payment date
JPMorgan European Growth & Income PLCdividend payment date
Marks & Spencer Group PLCdividend payment date
Oxford Instruments PLCdividend payment date
Pets At Home Group PLCdividend payment date
Polar Capital Holdings PLCdividend payment date
Redde Northgate PLCdividend payment date
Regional REIT Ltddividend payment date
Scottish Oriental Smaller Companies Trust PLCdividend payment date
Triple Point Energy Transition PLCdividend payment date
Tritax EuroBox PLC dividend payment date
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
5 Jan 2024 08:57

LONDON BROKER RATINGS: Jefferies cuts Mondi to 'hold' from 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

Read more
5 Jan 2024 07:39

LONDON BRIEFING: Clarkson to beat expectations; Ithaca CEO leaves

(Alliance News) - Stocks in London are expected to head lower at Friday's market open, as the year-end optimism about US rate cuts ebbs ahead of crucial economic data.

Read more
4 Jan 2024 17:03

FTSE 100 rebounds as Next outweighs slump in JD Sports

Next shines on profit forecast hike

*

Read more
4 Jan 2024 14:01

UK earnings, trading statements calendar - next 7 days

Friday 5 January 
no events scheduled 
Monday 8 January 
no events scheduled 
Tuesday 9 January 
B&M European Value Retail SATrading Statement
Games Workshop Group PLCHalf Year Results
Wednesday 10 January 
Glenveagh Properties PLCTrading Statement
Greggs PLCTrading Statement
Gym Group PLCTrading Statement
Hunting PLCTrading Statement
J Sainsbury PLCTrading Statement
Nichols PLCTrading Statement
Persimmon PLCTrading Statement
Thursday 11 January 
Atrato Onsite Energy PLCFull Year Results
Ferrexpo PLCFull Year Results
Hilton Food Group PLCFull Year Results
Knights Group Holdings PLCHalf Year Results
Marks & Spencer Group PLCTrading Statement
MJ Gleeson PLCTrading Statement
Reach PLCTrading Statement
Robert Walters PLCTrading Statement
Taylor Wimpey PLCTrading Statement
Tesco PLCTrading Statement
Whitbread PLCTrading Statement
XP Power LtdTrading Statement
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
3 Jan 2024 16:52

LONDON MARKET CLOSE: Stocks down ahead of US Fed minutes

(Alliance News) - Stock prices in London closed lower on Wednesday, as investors nervously look ahead to the latest US Federal Reserve meeting minutes.

Read more
3 Jan 2024 08:46

TOP NEWS: UK grocers enjoy bumper Christmas and inflation cools

(Alliance News) - The UK grocery sector had its busiest festive period since the onset of the Covid-19 pandemic four years ago, numbers from Kantar showed on Wednesday, while price inflation worries for consumers abated.

Read more
3 Jan 2024 08:42

Discounters, Sainsbury's and Tesco are UK Christmas winners -Kantar

*
Sainsbury's sales up 9.3% in 12 weeks to Dec. 24 - Kantar

Read more
2 Jan 2024 17:05

British equities slip on higher yields, financials drag

FTSE 100 down 0.2%, FTSE 250 off 0.9%

*

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account