Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. 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: 273.80
Bid: 272.20
Ask: 272.40
Change: -3.00 (-1.08%)
Spread: 0.20 (0.073%)
Open: 276.70
High: 277.50
Low: 272.10
Prev. Close: 276.80
MKS Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 1-UK supermarkets want 'urgent intervention' to ensure supplies to Northern Ireland

Wed, 13th Jan 2021 11:28

* Three month grace period to adapt systems ends March 31

* UK supermarkets say current proposals "unworkable"

* UK supermarkets say long term solution needed before March
31

* Says disruption inevitable if solution not found
(Adds detail, government response)

By James Davey

LONDON, Jan 13 (Reuters) - Britain's major supermarkets have
warned the government that "urgent intervention" is needed to
prevent significant disruption to Northern Ireland food supplies
in the coming months.

Britain is no longer part of the European Union's single
market and customs union, but Northern Ireland has a foot in
both camps – part of the UK's customs territory but also still
aligned with the EU's single market for goods.

Britain and the EU agreed in December that supermarkets
selling into Northern Ireland would have a three-month grace
period to adapt their supply systems to the post-Brexit trading
reality.

Despite that some supermarkets in Northern Ireland have had
shortages of fresh goods usually imported from Britain since the
turn of the year because they have struggled to shift to new
processes and bureaucratic procedures.

The bosses of retailers, including Tesco,
Sainsbury's, Asda and Marks & Spencer,
have written to Cabinet Office minister Michael Gove, warning
the situation could worsen.

In the letter, seen by Reuters, they said it was essential a
long-term solution is agreed with the EU before the current
grace period for simplified controls ends on March 31.

"All our businesses and suppliers have invested
significantly in the last few months to avoid disruption but
that will become inevitable if the proposals governing movement
of food from Great Britain to Northern Ireland are adopted," it
said.

"We recognise the European Commission needs to see increased
compliance to support the concessions it granted through the
Northern Ireland protocol but the current proposals, increased
bureaucracy and certification in such a short timescale, are
unworkable."

The CEOs called on Gove to create a dedicated working group
to co-ordinate government agencies to integrate customs and food
controls, and to use the supermarket groups' experts to develop
the best solution.

And they want the government to agree with the EU that more
time is required to implement a new system.

"It also requires an open discussion with the EU explaining
why we can't accommodate changes to the current approach to
transporting food to Northern Ireland but stressing we are
working towards a robust system as quickly as possible," the
letter said.

A British government spokeswoman said a new dedicated team
had already been set up and would be working with supermarkets,
the food industry and the Northern Ireland Executive to develop
ways to streamline the movement of goods in accordance with the
Protocol.

“The grace period for supermarkets and their suppliers is
working well, goods continue to flow effectively between Great
Britain and Northern Ireland and we are working intensively with
industry as new requirements come in," she said.
(Reporting by James Davey; additional reporting by Liz Piper,
Editing by Nick Macfie and Jane Merriman)

More News
23 Jan 2024 11:23

Staffline shares fall as profit declines; notes headwinds

(Alliance News) - Staffline Group PLC on Tuesday said underlying operating profit fell in line with market expectations in 2023 as it aimed to "deliver progress into 2024" despite headwinds.

Read more
19 Jan 2024 12:04

LONDON MARKET MIDDAY: FTSE 100 edges up despite poor UK retail sales

(Alliance News) - The FTSE 100 edged higher on Friday at around midday, though the pound struggled after data showed that UK retail sales plunged in December.

Read more
19 Jan 2024 08:50

LONDON MARKET OPEN: FTSE 100 rises amid UK shock retail sales print

(Alliance News) - Stock prices in London outperformed on Friday's market open, after weaker-than-expected UK retail sales data appeared to stoke hopes of an earlier interest rate cut.

Read more
18 Jan 2024 12:47

M&S to invest £30m in Scottish stores

(Sharecast News) - Marks & Spencer Group is to invest £30m overhauling its Scottish offering, including closing one of its stores in Aberdeen, the retailer said on Thursday.

Read more
17 Jan 2024 16:55

LONDON MARKET CLOSE: Stocks slump as Fed rate cut hope dwindles

(Alliance News) - European equities slumped on Wednesday, as interest rate expectations, on both sides of the Atlantic, were re-assessed on the back of some hawkish rhetoric and hotter inflation data.

Read more
16 Jan 2024 12:00

Britain's Ocado Retail pauses new sites for two to three years

Hatfield site closed in 2023, Luton opened

*

Read more
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 more
16 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 more
16 Jan 2024 08:26

Britain's Ocado Retail returns to positive earnings in 2022/23 year

Q4 2022/23 revenue up 10.9%

*

Read more
16 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 more
12 Jan 2024 09:14

LONDON BROKER RATINGS: Goldman likes Glencore; BofA likes easyJet

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

Read more
11 Jan 2024 17:24

European shares fall as hot U.S. inflation data rains on rate-cut hopes

WPP down after UBS downgrade

*

Read more
11 Jan 2024 17:03

M&S shares, Wall Street sell-off drag FTSE lower

U.S. inflation data sparks selloff

*

Read more
11 Jan 2024 16:53

LONDON MARKET CLOSE: Stocks lower on hotter-than-expected US inflation

(Alliance News) - Stock prices in London closed lower on Thursday, after US rate cut expectations suffered a setback following some hotter-than-expected inflation data.

Read more
11 Jan 2024 16:34

London close: Stocks fall as US inflation comes in hot

(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 more

Login to your account

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

Quickpicks are a member only feature

Login to your account

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