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Britain's Ocado Retail pauses new sites for two to three years
Hatfield site closed in 2023, Luton opened
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Share Price Information for Marks & Spencer (MKS)
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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
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Don't have an account? Click here to register.M&S set to report underwhelming quarterly sales
Mon, 07th Apr 2014 13:52
British department store chain Marks & Spencer (M&S) is expected to underwhelm with its latest trading update on Thursday.The FTSE 100 company is widely expected to post a decline of 1% in its clothing division in the first three months of the year, while sales within the Food division are forecast to be flat. The group has in recent times been saying its focus will be on continuing to transform the business into an "international, multi-channel" retailer.Back in early January, M&S said it expected its full-year gross margin in Food to be "slightly ahead" of its previous guidance of up 50 to 60 basis points (bps). As a result of its investment in promotional activity, it forecast its General Merchandise gross margin to be down 30 to 50bps, resulting in a "broadly level" UK gross margin compared to the previous year. It also stated that it was "cautious" in its outlook.Analysts at Brewin Dolphin on Monday said they believed the picture for both the General Merchandise and the Food divisions had "deteriorated". "In General Merchandise, market share data showed that M&S has underperformed the market, which is a sign that the Spring/Summer collection is not as successful as management had hoped. Food retail in the UK has seen a very tough two months, with a significant slowdown in sales growth. Whilst we believe M&S has outperformed the slowing market, like-for-like sales growth is likely to have decelerated. "The recent announcement that the company will focus on increasing international sales and profits (from a low base) is in our view an attempt to divert investors' attention from the domestic problems and management's recognition that growth will be very difficult to achieve in the UK." On Friday, Goldman Sachs retained its 'sell' recommendation for the group, saying that the business was not exempt from increasing competition in the UK grocery market. The group is due to release its annual results in May, when it is expected to report an 8% decline in profits to £615m. It will next month re-focus its online efforts in an effort to shake-off recent teething problems. NR
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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.
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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.
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