Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I’m surprised there isn’t a frenzy on here after the Irish times chose to summarise the Fraser interest in boo.
Hennes & Mauritz fell on weaker than expected profits and its chief executive departed Plus SAYE staff share scheme matured and probably some profit taking ahead of tomorrow. The staff have earned that-well done to them😁
Paid tomorrow! Let’s rejoice in that!
I live with hope JJ, at my age you have to! I remember us all staring 79p sp in the face not that long ago and it’s hope then that got us through those days. It is hope we live in health too.
You were correct with the 5%, well done JJ! You got what you predicted.
But it is short term and wording in trading updates that matters and we can’t always predict that.
I hope for good because what occupies our minds most becomes reality in my experience. I hope for less rain so my saplings have strong roots too, as I also hope for more land))
Let’s hope US inflation at 2.30pm is continuing its drop.
Good that Mks didn’t focus on any full year profits in the current economic climate, it wouldn’t go down too well, instead Mks have focused on increasing its competitiveness.
Mks have pleased more customers than last year and I believe looked after them very well, critical to the year ahead.
Finest +17% is impressive at Tesco and I see others are copying Mks too, the thing to remember though is new products are nearly 40% of Mks product range, they barely move on finest. New lines are the lifeblood of +LfL
The real prize is;
Analysts currently expect adjusted pretax profit for the year to come in at 663 million pounds ($846 million), up from 482 million pounds in 2022/23. That will give us an increased mcap thro circa 13.5X
JJ hi,
It’s easy to forget in q3 2022 inflation on food alone was +10.4% and yet Mks has put on another +9.9% LfL on top of that period in 2023, I’d call that impressive. Food inflation is 6.7% now.
International I agree is a surprise, and the upside is its mostly third party property assets, so low cost operations.
Agree with the Waitrose shops goodwill and it’s a great pity we can’t do that, however there’s pride at stake for JL and overall worth for them. Their strategy undoubtedly will change and they could come back stronger.
Let’s rejoice in the news we have Waitrose food market share matched even before Ocado JV news! Rejoice !
I am delighted most of all that finally the staff who worked through the covid, and invested in the then cheap shares are rewarded! Great job.
Marks & Spencer has said more than 9,200 shop workers are set to get bumper payouts under a share scheme as it revealed a jump in festive sales.
The high street stalwart said employees – mostly customer service assistants – who put a typical £150 a month into its 2020 share save scheme will gain more than £10,000 when it pays out on February 1.
Very good point Chilting and that will probably edge Mks over the Waitrose market share! Avocado dip brigade will be choking.
What matters is the analysts input so 10am is probably what counts
Https://uk.finance.yahoo.com/news/m-edge-waitrose-battle-middle-060000187.html
Consistent with market expectations, food at +10.5% is very good, together with full price sell through. Clothing okay performance, down side that market will react to is -6.4% international sales with transport issues and his comment on overall outlook-economic growth uncertain.
Ditto JJ
It will be more than fine!
You can see the hedge fund managers are finally back on the markets.
It is all about price for them Chilting and hunting down the next obscure tertiary volume.
All will be utterly boring in 5 years as it is today.
It is not them who will be innovating, far from it- they believe the right model has been found and will work hard at keeping it working better, and keep communicating it.
Jacks was for Tesco a wake up call not to change the vehicle into something so narrow it cannibalised itself. Clubcard with ai has a long way to go too.
I agree Chilting with corner, however I’m not so sure they are yet fully conscious of the likely scenario you paint. Take Kaufland another Eastern Europe start up of Schwartz, I recently saw one of these in Poland, once an exciting ground mover but now tired and overtaken by even Danes Salling in terms of rank.
German retail in UK is worse because it’s brain drain in commercial and board leadership is so fast they are losing consistency too, and the sharp edge is too diluted. There’s a firm feeling too that the centre aisle non food is landfill and customers are now tuning into this because garages and cupboards are full of it at home.
When growth turns to flatlining it will be because they are lifting margins on back basket as you say when things improve economically, however the model with fade into normality for customers and Tesco/Mks etc will be still innovating. Relevance is hard work, and even harder if retailers don’t listen very carefully to customers and get ahead of them economically.
I expect consolidation this year in food and especially nonfood.
At some point the German retailers Schwarz and Albrecht will demand profit, they can’t keep buying market share for improved cost of goods, eventually those volume bonuses are normal. They are not making money and debt continues to grow.
The demand for improved services never stops and is expensive on the operating model, if discounters can’t make money in this climate they never will, also, the longer time goes on the more Tesco and other home retailers learn, until the USP for discounters is not distinguishable for customers or suppliers.
I expect full price sell through to be much higher for Mks than previous year.
Digital, including C&C will be outstanding!
Key will be clothing and I think Mks have done very well.
Everything points toward absolutely great pre tax profit.
The outlook is what I would focus on tho.