Last checked at 16 Jan 2024 12:00
Britain's Ocado Retail pauses new sites for two to three years
Hatfield site closed in 2023, Luton opened
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Marks & Spencer Information
Share Price Information for Marks & Spencer (MKS)
Share Price is delayed by 15 minutes
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Share Price:
273.90
Bid:
274.30
Ask:
274.50
Change:
-0.70 (-0.25%)
Spread:
0.20 (0.073%)
Open:
274.50
High:
277.40
Low:
273.60
Prev. Close:
274.60
Last checked at -
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Don't have an account? Click here to register.Broker snap: Investec upgrades M&S to 'buy' despite Christmas miss
Thu, 09th Jan 2014 11:08
Marks & Spencer broadly missed analysts' estimates with its third-quarter results on Thursday, but shares managed to push higher, helped by comments from Investec.Group sales at the High Street retailer rose by 1.8% in the 13 weeks to December 28th. However, while total UK sales increased by 1.5%, they were down by 0.2% on a like-for-like (LFL) basis with growth in Food once again being outweighed by weakness in General Merchandise (GM).Investec reduced its forecasts for M&S after the results, but upgraded its rating from 'hold' to 'buy', saying that the business should now become cash generative given that the current year is the last year of elevated capital expenditure (capex). "We believe the changing business model is not reflected in current valuation," said Analyst Kate Calvert, adding that there was already a lot of bad news factored into the share price."The market has already anticipated downgrades we believe, and with FY14 being the last year of elevated infrastructure capex, M&S should start to generate cash. "Management should be able to start unlocking ever increasing efficiencies as it approaches the end of its infrastructure upgrade programme. Also we believe there has been some progress on womenswear ranging and instore presentation with more to come."The broker has maintained its 500p target price, which would put the stock on a price-to-earnings ratio of 14.2 - "a 20% discount to the sector average", Calvert said.The stock was up 2.52% at 456.1p by 11:14.BC
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16 Jan 2024 09:08
Britain's Ocado Retail won't open new sites in next 2 to 3 years -CEO
LONDON, Jan 16 (Reuters) - British online supermarket Ocado Retail is currently operating at about 75% of its capacity and does not expect to open any new robotic warehouses in the UK for two to three years, its boss said on Tuesday.
Read more16 Jan 2024 08:50
Ocado Retail CEO: Red Sea disruption impact will be minimal
LONDON, Jan 16 (Reuters) - The chief executive of Ocado Retail said she is not expecting to see much impact on the British online supermarket from disruption to shipping in the Red Sea.
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Britain's Ocado Retail returns to positive earnings in 2022/23 year
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*Read more16 Jan 2024 07:09
Britain's Ocado Retail returns to positive earnings in 2022/23 year
LONDON, Jan 16 (Reuters) - British online supermarket Ocado Retail said on Tuesday it would meet its forecast of a return to positive earnings for its full 2022/23 year after reporting fourth quarter to Nov. 26 revenue growth of 10.9%.
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Partying Britons boost Tesco and M&S at Christmas but cautious for new year
LONDON, Jan 11 (Reuters) - Britons splashed out on premium and party food at Tesco and Marks & Spencer over Christmas, prioritising treats at home over eating out, and favouring the biggest retailers for their festive spending in still tough economic conditions.
Read more11 Jan 2024 12:00
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Read more11 Jan 2024 09:44
Tesco raises profit outlook again after strong Christmas sales
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*Read more11 Jan 2024 08:40
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