The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Https://www.retailgazette.co.uk/blog/2023/08/ocado-expands-delivery/
That’s good if basket size is larger than average.
I don’t believe Mks will make ftse100 by 18/8, it would need a M/cap of 4.4/4.5 bil £.
Based on its current performance and wider market holiday mode it’s treading water, although as I type Mks is starting a new bullish phase.
Let’s see
Https://research.ftserussell.com/products/downloads/FTSE_FAQ_Document_UK_2023.pdf
I don’t think those dates have changed.
A large order was filled on Mks just before midday, hence the sell auction.
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I would be inclined to agree Chilting.
I don’t understand why this hasn’t been done before. Cars have mainly use the back streets anyway, I have never driven a car in the area except in 1970’s.
There also needs to be more trees planted and outdoor dining, with modern shelters.
The key issue for retail though is sky high rents and poor discipline on quality tenants. Long term leases are almost nonexistent.
Mayfairs success in particular mount st has been fair rents from Duke of Westminster and upkeep of properties together with strict control of tenants with a very good balance of living accommodation and retail.
Https://www.retailgazette.co.uk/blog/2023/07/oxford-street-revamp/
Rishi Sunak cabinet reshuffle in September will be interesting too as conservatives prepare for next years GE.
Too many shops closed on Oxford st Chilting, no idea when you went through it-I’m there a few times a month (not shopping)
Rental income is 30% down in the last two years, and many of the shops that are closed, have been for a few years.
It’s not a destination anymore for tourists either. Certainty Londoners don’t go there except evenings.
I would build business in other M&S stores in locations whilst waiting for a change of government or other circumstances. Mks have to remove the trade volume card.
There are 2 parts of the Marble Arch building that could be separated for other uses.
Not ideal but the premier store for Mks could be Leeds.
The Mks head office would be better placed in Leeds too. Kirkstal market in Leeds is where the pair started anyway.
London is not what it was at all.
It will be interesting to see what Stuart and Archie decide.
Have a great weekend all, fantastic week!
ma store and it’s 3 bolt on extensions is unworkable because it’s operating costs will probably be completely negative to the average, and consequently it’s ebitda too is dragging down the average because of its weight.
the decision yesterday from gove is politically motivated to give labour controlled westminster council and labour london major a ***** slap.
it would pay mks to wait for a labour government before deciding ma fate.
closure of ma is not on the mks bod agenda! its weight of sales and overall contribution is too great, mks can look for alternative sites and may already have some possibilities of course-but the dilapidation costs a closure would leave behind are again unthinkable.
gove knows the mks cards and what’s likely to play out.
the decision is 100% political and some left overs from archie’s time as a conservative mp and gove.
i would park any decisions on the site but take up some fairly strong negotiations with the building’s landlord to reduce rent.
it’s not plausible to spend millions on a site mks don’t own and to have no substantial reduction in operating costs!
No.
Mks have stated at recent AGM that modest dividends will restart for this current FY 2023/24. Probably 5p
The return to ftse100 to be announced hopefully 18 august this year. That should give Mks +10% increase in sp.
Also credit rating agencies SP and Moody’s hopefully will restart investment grade shortly too.
We do need some sellers and shares to change hands at higher prices, volume is drying up due to holidays.
Sit back and watch the saplings grow.
As far as the eye can see there’s a mass of new growth! Millions!!
There’s a time for waiting and watering before pushing on to spread roots!
Go forth and multiply will come soon enough.
Stable ground is crucial in the winter.
Mks needs circa 4.3/4.4b mcap to enable minimal conditions for entry into ftse100. Carrington I’m sure sent the schedule on his note.
Mks is currently on 3.88b mcap.
It’s difficult to please everyone in catering, that’s why margins are so small.
The newly opened ones are fantastic though, much easier to use, prices are still too low though.
Would pay to have fewer customers!!! Served faster and push average spend and margin up.
The future of Mks cafe’s is hopefully secure as it fits the demographic needs of the current and emerging Mks customer base.
Margins in cafe’s are low to zero, and in older cumbersome cafe’s a loss. (But small £numbers)
There’s some important connections and opportunity with Mks own label (OL) and cafe’s as a place to taste and buy, plus gross profit on OL is high at circa 75% !
Cafes are high on wage costs and energy, plus sales to space is actually very low.
Cafe are a huge halo and footfall driver as a meeting place, more social than direct profit.
Personally i feel Mks could do more in the largest footfall stores in the cafe space like adding complimentary concessions such as High spec third party, plenty in harrods !
I could not agree more JJ.
Heath/Wilson played a lot more with VAT to fight inflation, but more tax would not be tolerated by conservatives.
I feel there’s a total lack of innovation in all political parties.
In my day we didn’t have money to throw at problems, and in my view poor leaders throw money or consultants at the fires, instead of graft.
The UK plc operating model is lacking ideas, and back bone.
Have a great weekend.
Will one day catch up with saturation with UK market share.
There’s further to go of course for discounters and no one should rule out acquisitions for them whilst their market share is combined 15%.
But LFL sales will significantly be deflated as is volume at the moment.
Their profits are in the tens of millions atm as they continue to buy market share, in 4 to 5 years though their backers will demand more net margin and retails will head north.
Also operating costs will steadily increase as customer services have to improve the shopping trip to compete with Tesco etc.
There are still over 1m vacancies in UK presently and so long as GB population can work their way out of financial difficulties there will be fewer defaulters.
Inflation is slower in GB to retreat, why? Probably because they have more savings than most other populations, therefore carry on spending on goods and services for longer.
A reminder Schwartz in UK have bought market share by offering tertiary products at cheap retail prices.
Once they have gained say 27% combined market share via Lidl/aldi retails will push higher and bingo they will be netting £billions.
Meanwhile UK public continue to be fooled by what they are buying and where profit goes.
This short closed last week.
Millennium Capital Partners Llp Opened a short on Mks at 188p 0.50
BR 3.97% long