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Interesting read, albeit a bearish view
https://www.fool.co.uk/investing/2019/07/16/warning-i-think-the-marks-and-spencer-share-price-could-fall-another-30/
So it's been confirmed. A 2 year stint is over. Let's hope for the sake of shareholders that this is not the first of many attempts to jump from what appears to be a sinking ship. So far markets haven't reacted to this news, but I get the feeling that a much bigger storm is brewing.
"Her lack of skill in clothes buying and supply chain appears to be the problem. But then the problem existed before she joined, didn't it?" Global Data retail analyst Maureen Hinton tweeted.
and
The former boss of Halfords had been parachuted into one of the trickiest jobs in retail with no fashion experience.
We were told she'd been hired for her "first-class customer knowledge" and experience in running high-achieving teams. In the end, that wasn't enough.
I guess the question has to be asked, who conducts the interviews and carries out the necessary due diligence?
This is shareholders money that is being played with. Was it a "fake it till you make it" scenario while benefiting from being on the payroll ?
"Despite the turnaround plan, profits have continued to fall, and Mr Rowe said this week that it had been a "troubled year" for the company's vital clothing and home division.
At the firm's annual general meeting on Tuesday he listed major failures, including not buying enough jeans for a February promotion.
"That led to us having some of the worst availability in casual trousers I've seen in my life," he said. "
Source: https://www.bbc.com/news/business-48956183
Despair
Just came across this which does not give me much confidence as a clear answer was not given which for many may lead to severe doubt:
Marks & Spencer’s clothing home and beauty business could find itself rudderless amid reports that its head, heralded as a saviour of the ailing division upon her appointment in May 2017, could be about to quit.
Reports on Sky suggest that Jill McDonald is considering her position, threatening to throw the division into fresh turmoil as it seeks to turn the ailing unit around but neither McDonald nor M&S itself will comment publicly
When asked several times on Wednesday night whether Ms McDonald was leaving M&S, the company declined to comment.
If Ms McDonald was to leave the company in the near future, her exit would be interpreted as a blow to Steve Rowe, M&S's chief executive.
URLs:
https://www.thedrum.com/news/2019/07/11/ms-clothing-head-jill-mcdonald-poised-depart
https://news.sky.com/story/m-s-clothing-chief-jill-mcdonalds-future-in-doubt-11760694
I would invite you all to (re) read Suprised's comments from earlier today.
I am by no means a qualified accountant, nor quant, but the logic in a certain statement makes total sense.
"A square appears to be square until one views from the side" (SP500)
Welcome to AIM
Even the least skilled magicians are aware to leave their most grandest of magic tricks till last.
This is AIM, and things do not occur as frequently as the FTSE (never mind the NYSE) so patience is king in many situations.
Thank you to RKB for the meticulous postings over these recent weeks. Time and efforts truly appreciated.
Thanks to many others for thoughtful insights also.
One who plants 1000 seeds today, should not expect a forest tomorrow." (SP500)
Interesting how my broker is telling me that I am not able to execute the trade size I have put at this time....
First i've experienced it on Selftrade...
Some valid points have be mentioned as of late which has prompted me to re-evaluate a few things that pertain to this and other stocks.
Nonetheless, the devil is in the detail.
We have all heard the Rome wasn't built in a day analogy....
Great things take time, and like an iceberg, many only see whats above the surface...
Fear and impatience are catalysts to the wrong decision, I myself have had to learn the hard way to stick to my guns.
Today's news is positive indeed, I could not fathom a genuine reason why the approval would not be granted.
We will all have to wait and see how this tranche is absorbed, bolstering Koovs, moving the company forward.
I have faith in Mr Alli and the rest of the team to increase value for the company, and ultimately shareholders.
SP500
Lest we forget that:
Buys show as sells and vice versa, perhaps more frequently than we would like.
Various things also happen the behind the scenes
One must saddle up sufficiently to ride the coattails of the smart money...
@Jace86 - I disagree, there are those that can lose while others seemingly win....
Settled somewhat, as there is the issue of dilution and availability
One must decide whether events are "wounds that heal" or "scars that don't"
A scarred soul may have to explain frequently from where the apparent scar came from.... ie while the pain may disappear, the presence is still there....
"One can put a carpet over a hole... but alas the hole still remains..."
Firstly, the very purpose of this board and others like it are for like minded individuals to share, discuss and comment about specific companies openly.
Yes there is a caveat of what can and more importantly can not be included.
In the case of our esteemed (virtual) colleague, who is seemingly suffering at the hands of the "controllers", given the dexterity of the said individual, I am inclined to take the view that things will be resolved imminently.
I also take the view that specific recent events have been somewhat "glossed over" and forgotten however, one must remember that it just but one bad apple amidst the barrel that renders them all spoilt.
To quote Sun Tzu:
"Every Battle is Won or Lost Before it is Ever Fought"
Like you, I await the return.
SP500
@theonlywayis... I feel your pain regarding MA, but also think his "outbursts" added fuel to the fire... He should have kept his mouth closed, taken over, and then made the necessary changes once at the helm.
Hopefully BOU is far far away from the DEB story...
Onwards and upwards
Self Trade have just processed the refund too...
Selftrade, for all of their faults, have got my open offer shares...
I do not recommend the platform however as I find it incredibly slow...
and conversely....
What gets me is if you appear to be so pessimistic Richboy about this stock, why are you here, offering your pearls of wisdom ?
One rule for one:
Important Message from the Financial Conduct Authority
Posting inside information that is not public knowledge, or information that is FALSE OR MISLEADING, may constitute market abuse. This could lead to an unlimited fine and up to seven years in prison.
If you have any information, concerns or queries about market abuse click here.
Indeed... as I always say, its what they don't tell you that is more important... especially the history of Allan while we're on the subject...
LROG - that would depend on the basis of his recruitment. If he was sourced to specifically do a set job, and that job involves an adverse effect for Pi's then so be it. It's his conscience.
Sadly we are not privvy to the role he has other than chairman, however I am optimistic his intentions will be for the benefit of shareholders like you and me.
SP500
The determining factor shouldn't be whether it is closer to the bid or ask...
The determining factor should be it is either a buy order or a sell order that reaches the exchange.
Hmmmm, thats what they say, however, surely in 2019 a system should have the capability to determine if the order placed is a buy or sell... ( everybody all together ) unless the intention is to mislead...