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 Share News (MKS)
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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:
258.30
Bid:
258.30
Ask:
258.50
Change:
3.70 (1.45%)
Spread:
0.20 (0.077%)
Open:
254.60
High:
259.20
Low:
254.60
Prev. Close:
254.60
Last checked at -
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Don't have an account? Click here to register.Canaccord upgrades M&S to 'buy' after fourth quarter numbers
Fri, 08th Apr 2016 10:40
(ShareCast News) - Marks & Spencer was upgraded to 'buy' from 'speculative buy' by Canaccord Genuity on Friday after the retailer reported its fourth quarter results.Canaccord also raised its target price on M&S to 475p from 460p, saying there was potential for a new strategic focus under new chief executive Steve Rowe to drive higher shareholder returns.M&S on Thursday reported a 1.9% increase in group sales as an increase in food sales offset another decline in the struggling general merchandise division.Food sales were up 4.0% in total but disappointingly flat on a like-for-like (LFL) basis, short of a consensus forecast of 0.5%.Clothing and home sales, known as general merchandise (GM), were down 1.9% in total and 2.7% on a LFL basis. The consensus for LFL sales was a 3.5% decline.Rowe vowed to revive the clothing business, admitting "this performance was not good enough"."Although the sales decline in Clothing and Home was lower than last quarter, our performance remains unsatisfactory and there is still more we need to do."Rowe, former M&S executive director of general merchandise, took over from Marc Bolland on Saturday and said he would continue to oversee the clothing division."This category has long been a drag on profit performance and sentiment, and will be addressed through a number of measures, some of which are already yielding some early signs of encouragement," said Canaccord analyst David Jeary."These include, but are not limited to, better prices, better fit, better availability and better customer choice (by reducing line proliferation). None of these are - or should be - earth-shattering revelations, but rather they are - or should be - core competencies for any clothing retailer."Canaccord left its forecasts unchanged and said it will review them again after Rowe's strategic plan is presented in May.It has estimated full year 2016 adjusted earnings before interest tax, depreciation and amortisation of £1.33bn, up slightly from the previous year's £1.31bn. Sales are expected to come in at £10.38bn, compared to £10.31bn in 2015.
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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.
Read more16 Jan 2024 08:26
Britain's Ocado Retail returns to positive earnings in 2022/23 year
Q4 2022/23 revenue up 10.9%
*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%.
Read more12 Jan 2024 09:14
LONDON BROKER RATINGS: Goldman likes Glencore; BofA likes easyJet
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Read more11 Jan 2024 17:24
European shares fall as hot U.S. inflation data rains on rate-cut hopes
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*Read more11 Jan 2024 17:03
11 Jan 2024 16:53
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Read more11 Jan 2024 16:34
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(Sharecast News) - London's stock markets closed in the red on Thursday, reversing earlier gains after US consumer inflation came in hotter than expected.
Read more11 Jan 2024 12:02
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
LONDON MARKET MIDDAY: Stocks level out as US inflation nerves kick in
(Alliance News) - Upbeat morning trade for European markets gave way to caution by midday on Thursday, as investors look to a make-or-break US inflation reading, and what it could mean for the Federal Reserve interest rate outlook.
Read more11 Jan 2024 09:44
Tesco raises profit outlook again after strong Christmas sales
6 weeks to Jan 6 UK like-for-like sales up 6.8%
*Read more11 Jan 2024 08:40
LONDON MARKET OPEN: Stocks in the green; M&S slides as Tesco edges up
(Alliance News) - Stock prices in London climbed at Thursday's market open, with investors feeling hopeful ahead of US inflation data, and considering Christmas updates from grocery companies.
Read more11 Jan 2024 07:41
LONDON BRIEFING: M&S reports strong sales momentum; Tesco ups guidance
(Alliance News) - Stocks in London are tipped for a strong start on Thursday, as global equity markets benefit from optimism ahead of the US inflation print later in the day.
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