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:
261.10
Bid:
261.90
Ask:
262.10
Change:
2.80 (1.08%)
Spread:
0.20 (0.076%)
Open:
261.90
High:
265.40
Low:
261.10
Prev. Close:
258.30
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Don't have an account? Click here to register.Peel Hunt downgrades M&S, highlights lack of growth in General Merchandise
Thu, 08th Oct 2015 10:15
(ShareCast News) - Peel Hunt downgraded Marks & Spencer to 'sell' from 'hold' and cut the price target to 450p from 530p."Underlying trading conditions have been infinitely better this year than last but we fear that yet again M&S has failed to read the script," it said.The brokerage explained that despite a very easy comparative, it's concerned that like-for-like sales for General Merchandise remain in negative territory. It said this was "a quite breathtaking indictment of its ranges this season".Peel Hunt said even if the cost savings and sourcing gains come through on track, and Food stays in positive territory - neither of which is certain - that won't hold back the tide."An H2 LFL bounce-back is unlikely: for us the bottom line is that without General Merchandise sales growth, the shares are likely to struggle."Peel added how bulls point to the strong cash generation as a reason to hold the shares but that will soon come under pressure if forecasts continue to fall and more still if extra capex is required to refresh the stores again.It added that a 15x price-to-earnings ratio is not ridiculous but isn't much of a discount to the sector and with no confidence in the true level of earnings per share, it's too risky to stay with a 'hold'.At 1020 BST, M&S shares were down 1.5% at 491.40p.
More News
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%.
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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
LONDON MARKET CLOSE: Stocks lower on hotter-than-expected US inflation
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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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