Marks & Spencer awards store staff 15% bonus for work during coronavirus epidemic
Any of the retailer's staff who are furloughed will still get full pay
Company
Marks and Spencer Group PLC
LON:MKS
Marks and Spencer Group is a retailer of clothing, food and home products in the United Kingdom. The Company has 622 stores, including Simply Food franchise stores, as well as an international business.
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As grocers hire extra staff to cope with demand, M&S lags behind
The grocer has not seen a spike in demand due to its focus on fresh food, while the clothing & home section faces more struggles
Marks & Spencer weak as it suspends dividend, clothing sales dive, food remains strong
M&S is set to close some stores temporarily and does not think normal trading will return in the Autumn
M&S and McColl’s likely to benefit from government designation of ‘essential’ retailers, says Peel Hunt
The broker said they believed the UK will implement "more draconian measures" similar to France, which has designated specific types of businesses to remain open during its coronavirus lockdown
Marks & Spencer poaches Greencore' Tonge
Chief executive Steve Rowe said Eoin Tonge would bring “in-depth knowledge of food, as well as strategy and operations”
Marks and Spencer, John Lewis still face hurdles after worst year for retailers
“There are definitely some missteps in it, but let’s not forget it has undoubtedly been a very difficult time for retail,” analysts said
Marks and Spencer starts clothing division recovery but sales still dip
Group sales were down 0.7% due to lower revenue in the clothing & home which has however shown improvement since the first half
M&S gets double upgrade as Berenberg eyes “significant improvement” in clothing and home business
One of the key factors for the bank's positivity was the recent appointment of Richard Price, the former boss of Tesco's F&F clothing brand, as manager of C&H
Marks & Spencer appoints interim CFO
David Surdeau will take on the role from 7 January, filling the vacancy left by Humphrey Singer who stood down on 31 December
M&S gets early Christmas present from Goldman Sachs double-rating upgrade
Traders said that the US investment bank had hiked its stance for M&S to ‘buy’ from ‘sell’ and boosted its target price to 220p from 170p
Retailers enjoy a relief rally as Boris Johnson promises business rates review
Markets are moving off latest polling data, which suggests that Boris Johnson's party has over a 60% chance of winning a majority in December's snap election, after which the pro-business measures would be introduced
Marks & Spencer says transformation "running at pace" but sales still falling
“For the first time we are beginning to see the potential from the far-reaching changes we are making,” said chief executive Steve Rowe
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FTSE 100 closes marginally higher as traders await next round of catalysts
The UK's premier share index finished up 8.57 points at 7,396.65 on the day
Marks & Spencer looks to bring spark back after FTSE demotion
Home builder Redrow and cybersecurity firm Sophos will also be delivering numbers
M&S still failing to reach mainstream customers
Analysts at HSBC lowered their share price target from 239p to 150p and downgraded their recommendation to “reduce”
Marks & Spencer finance head to depart as retailer loses FTSE 100 spot
Today it was confirmed that Marks & Spencer will also lose its spot in the FTSE100 having been one of the original members when the index was set up in 1984.
Marks and Spencer headed for another double-digit profit drop warns Goldman Sachs
Adjusted pre-tax profits fell by 10% in the year ended 30 March, and heavyweight investment bank Goldman Sachs is expecting a similar drop this time around
M&S's FTSE 100 check-out leaves just 27 of the original companies
What happened to the original cohort of FTSE 100 companies?
Berenberg's scoops from the retail front line: sell Asos buy ABF
Asos was downgraded to ‘hold’ from ‘buy’ but the analysts said the e-retailer's problems are “far from insurmountable”
Why you should be looking at small- and mid-caps to stuff into your income portfolio
Most income investors fill their boots with FTSE 100 giants such as BT and Vodafone, but with several high-profile dividend cuts of late, Octopus fund manager Chris McVey reckons a ‘multi-cap’ approach is needed
M&S CEO Steve Rowe to take over leadership of retailer’s Clothing and Home business
In a brief statement, M&S announced that Jill McDonald is leaving the business nearly two years after taking over as Managing Director of Clothing and Home
Ocado investors hang high hopes on tech transformation
Ocado has signed multiple overseas partners in recent years but the market wants to know how much money it can make from these deals, according to AJ Bell's Russ Mould.
Ocado earnings hit by Andover fire costs but shares jump on deal optimism
Ocado’s shares have risen strongly this year after clinching deals with M&S and Coles.
Investments and investor services
FTSE 100 closes in red as traders await Fed chair comments
The Footsie closed the afternoon session down nearly 13 points at 7,536.
Archive
Bovis Homes, Ocado and Micro Focus all due to report on a busy Tuesday
After a relatively quiet start to the week, the news flow is set to ratchet up on Tuesday as a host of big names publish updates of one kind or another
Investments and investor services
FTSE 100 closes a tad lower as traders are not sure which way to jump
The UK's premier share index finished nearly four points lower at 7,549
Archive
Barratt Developments and Bovis Homes to provide main building bricks in coming week
Aside from the two housebuilders, corporate updates in the coming week will also be delivered by retailers Ocado, Superdry and Dunelm
FTSE 100 dividend payments set for new record in 2019 despite recent cuts from M&S and Vodafone
AJ Bell’s Dividend Dashboard shows that payments from London’s 100 biggest companies is expected to total £91.2bn this year
M&S well-positioned to deal with challenges, says Barclays
Barclays maintained an ‘overweight’ rating on M&S but lowered its target price to 290p from 320p
Ocado market is even bigger than previously thought, says Citi
Citi’s rating of ‘buy’ was reiterated with the share price target hiked to 1,450p from 1300p
Tesco still market leader but for how long?
With German discounters Aldi and Lidl chipping away at its market share and Amazon marching onto the grocery scene, Tesco’s work is far from done.
Marks and Spencer rights issue receives lukewarm response, but rump placed easily
Never mind eight out of 10 cats ... barely eight out of 10 M&S shareholders wanted new shares, even at a discount
Shell shows way forward for dividends as other blue chips cut their cloth
Oil major guides to total dividends and share buy-backs of US$125bn “or more” between 2021 and 2025
easyJet’s FTSE 100 relegation could be more of a dip than a descent
The budget airline is accompanied by generic drug maker Hikma on the list of firms facing the blue-chip trap door
Builders and building materials
Kier gives short-sellers a boost after profit warning sends shares crashing
About 4.75% of Kier’s shares are on loan to short sellers, according to website www.shorttracker.co.uk
Ocado hit as Jefferies cuts stance to ‘underperform’ on valuation grounds after strong gains
The US broker's analysts pointed out that Ocado’s valuation “now assumes an unequivocal commercial success of the OSP for its existing customers (and their 38 contracted sheds)”
Investments and investor services
FTSE 100 regains ground at the close
The FTSE 100 closed 32.86 points higher at 7,218.16 on Thursday, just easing off its late afternoon high of 7,235
M&S expected to narrowly avoid FTSE 100 relegation after rights issue
On Wednesday, M&S shares fell 5.9% to 235.80p as trading in the rights to the upcoming share issue hit the secondary market
Archive
Johnson Matthey's final results provide a step up in class for Thursday's corporate diary
The Day Ahead will also bring updates from two FTSE 250-listed firms, transport operator FirstGroup and water utility Pennon, plus numbers from newspapers group Daily Mail
Frontier IP’s Fieldwork Robotics sees success in initial trials of fruit-picking robot
Further trials for the system are scheduled for later this year, with a commercial system expected to be manufactured in 2020
Archive
FTSE 100 closes below its opening benchmark as trade war concerns cloud market sentiment
The UK blue-chip index ended 7.78 points lower at 7,265.98, just off the day's worst level of 7,263.80 after a topsy-turvey session which saw it hit a session high of 7,314.85 early on
Archive
Enjoy the UK bank holiday, because there will be little else to get excited about in the coming week
The shortened trading Week Ahead will only bring updates from the likes of second-liners FirstGroup, Pennon, Wizz Air, and Daily Mail & General Trust
Is London's fickle funding appetite part of Lasker's 'disastrous' cycle?
Stock market sage Bernard Lasker once said: “I can feel it coming...A whole new round of disastrous speculation, with all the familiar stages in order: blue-chip boom, then a fad for secondary issues, then an over-the-counter play, then a g
Analysts raise doubts on M&S turnaround plan
“The fact that sales are still expected to drop this year suggests the turnaround is still some way off,” said Ian Forrest, investment research analyst at The Share Centre.
M&S confirms £600mln rights issue and dividend cut to fund Ocado joint venture
M&S reported a 9.9% drop in pre-tax profit before adjustments
Archive
FTSE 100 closes slightly ahead but Wall Street shares slide
The Footsie closed out at 7,334 - up around five points, while mid-cap index was firmly lower- down 129 points at 19,307
Marks & Spencer finals to fix FTSE 100 future
High street retailer has sunk to the relegation places in the FTSE 100 index
Archive
Inflation figures to lead macro news on Wednesday, Royal Mail braces for full year figures
Economists are expecting the consumer price index to be well below the recent growth in average earnings at around 1.8% year-on-year in April
Investments and investor services
FTSE 100 closes in the red as trade tensions and Brexit confusion rumble on
The UK index of leading shares closed down nearly 38 points at 7,310
Archive
Still no opportunities to sell in May, with Royal Mail and M&S set to deliver updates
The Week Ahead will also bring news from power firm SSE and water groups Severn Trent and United Utilities, plus the latest UK inflation and retail sales numbers
Will M&S be too late to the online party? Liberum thinks so…
M&S will have to deal with fierce competition: Waitrose recently unveiled ambitious plans to treble the size of its online business, while Tesco, Sainsbury and Amazon.com have been investing into their delivery propositions for a while
High FTSE yields point to 'dividend slaves' that may cut payouts
Grace Jones' Slave to the Rhythm might well have been about the pressure of a progressive dividend policy: 'Build on up, don't break the chain; Sparks will fly when the whistle blows'
Marks and Spencer 'cultural change' sparks upgrade from Citi
“The Ocado JV deal is an elegant solution to a structural gap in the M&S business model and reflects a bold decision to buy into a market leading online proposition”
Joules appoints former Asda commercial director as new CEO
Nick Jones, who also served as a director at Marks & Spencer, would take up the top job before the end of the year, replacing long-time CEO Colin Porter
Purplebricks isn’t the first UK company to fail to crack overseas markets, and it won’t be the last
Overseas markets, particularly the US, have proved tough for UK companies to crack, just ask Tesco, Next, Sainsbury’s and many others…
While UK dividends hit record £19.7bn in first quarter, some FTSE 100 companies could be headed for cuts
Basic measures like dividend cover suggest a number of blue chips might be struggling to maintain their payouts at current levels
Next, M&S, Kingfisher, WH Smith and Dunelm shares to benefit from improved retail outlook, says RBC
RBC’s preferred stocks are Next and Primark owner Associated British Foods
HSBC cuts Ocado as it thinks while risk has shifted to customers after recent deals, they have not been completely eliminated
While Ocado has lowered its direct exposure to the Grocery Home Delivery model through its recently announced joint venture with M&S, it has not changed the fundamental economics which HSBC believes are challenged
Marks & Spencer weak as Credit Suisse cuts its rating to ‘underperform’ from ‘neutral’
The Swiss bank lowered its earnings per share forecasts for the FTSE 100-listed firm by 16% and 27% for 2019 and 2020, respectively, with risks to the downside
FTSE 100 closes marginally down after treading water through the day as Parliament breaks for Easter after Brexit extension
Holiday cheer as airline stocks gain on hopes holidaymakers will put Brexit concerns aside for summer
Asda overtakes Sainsbury's as UK's second largest supermarket ahead of CMA's merger decision
Sainsbury’s, which is in the process of trying to merge with Asda, lost market share as sales declined over the period
Frontier IP’s Fieldwork Robotics wins funding to accelerate development of fruit-picking robot
Frontier, which holds a 27.5% stake in Fieldwork, said the funding would put towards a project to create a multi-armed robot prototype
Ocado clinches deal with Australian supermarket Coles a month after M&S tie-up
Ocado said it expects the deal with Coles to create “significant long term value” to the business
Sainsbury's-Asda merger to put pressure on Bakkavor and other suppliers, says Barclays
Barclays said it is concerned about the “increasingly competitive” UK ready-meals market, in a note on the European food ingredients sector
Ocado shares rise as Andover warehouse fire has smaller-than-expected impact on revenue
“The fire has been a setback, but it will be only a temporary one,” said chef executive Tim Steiner
Archive
FTSE 100 joins other global indices to head higher and finishes above 7,300
The Footsie added 0.34% to close at 7,324, while US shares are also higher at the time of writing
Archive
Brexit 'Meaningful Vote 3': Slasher, thriller, or just postponed?
Aside from the Brexit shenanigans, the Day Ahead will also bring the release of the latest UK jobs data, plus trading updates from online retailers Ocado PLC and ASOS PLC
M&S to open superstores that stock full food range ahead of online delivery launch with Ocado
M&S will open new superstores that offer its full range of food to bring in families for their big weekly grocery shop
Archive
Retail results to vie with 'Meaningful' Brexit vote, UK, US rate decisions, and key data
DIY stores owner Kingfisher, clothing retailer Next, plus troubled fashion firm Ted Baker will report full-year results, with trading updates due from internet grocer Ocado and online fashion group ASOS
M&S and Ocado cost savings key to making tie-up more attractive, says RBC Capital
RBC revised its target prices on Marks & Spencer and Ocado shares but maintained a 'sector perform' on the stocks
M&S ready meal supplier Bakkavor predicts weaker margins in first half
Analysts at Peel Hunt repeated a ‘buy’ rating on the stock but cut its target price to 190p from 200p
Jefferies cuts Marks & Spencer to ‘hold’ from ‘buy’ on concerns over Ocado jv plans
The US broker's analysts said: “We are of the view that the £70mln of EBITDA synergy ambitions underpinning the deal rationale may prove rather difficult to deliver in full”
As M&S and ITV unveil tie-in deals, is the plug-and-play/consolidation model becoming the default catch-up method for digital?
With M&S choosing to anchor itself to online grocer Ocado and ITV and the BBC pooling their efforts in online streaming, have tie-ins and consolidation become the best strategy to ward off the surge in digital competition?
M&S set for big rights issue, divi cut to fund online grocery joint venture with Ocado
M&S intends to conduct a rights issue to raise up to £600mln, which will be launched in due course, and which is fully underwritten on a standby basis by Morgan Stanley
FTSE 100 finishes lower as global markets hit by geopolitical worries
The UK's blue chip index closed down nearly 44 points at 7,107. Meanwhile, mid-cap cousin FTSE 250 fell more than 116 at 19,513
Ocado and M&S confirm talks regarding joint venture
The two firms confirmed the talks in separate announcements, just weeks after Ocado boss Tim Steiner had stayed tight-lipped on speculation of a possible tie-up following newspaper reports in January
Ocado boss tight lipped on reports of possible tie-up with M&S
“It is our business to talk to retailers and we never comment on who we’re talking to," Ocado boss Tim Steiner told reporters after the company's full year results
Archive
FTSE 100 closes convincingly higher; BP top gainer
The UK's premier share index closed up over 143 points higher at 7,177
Archive
BP's finals to deliver “good year-on-year progress", plus strong growth in headline cash flow
Aside from BP's full-year results, the Day Ahead will also include an update from FTSE 100-listed online grocer Ocado PLC and from mid-cap real estate firm St Modwen Properties
Archive
Bank of England's 'Super Thursday' and slew of corporate earnings eyed as Chinese New Year begins
The week ahead includes updates from Thomas Cook, Superdry, Ryanair and Tate & Lyle, among others.
Ocado said to be considering replacing Waitrose with M&S as key grocery supplier
Ocado and M&S have held “secret talks” over the past few weeks about launching a food delivery service, the Mail of Sunday reported
Investments and investor services
FTSE 100 closes lower as trade worries dent global equities; Ocado top Footsie gainer
A deceptively dull start by the Footsie gradually turned into something a bit more dramatic
Capital & Regional in talks with struggling Debenhams about store re-sizing
Capital & Regional said weaker sentiment in retail assets led to a 4.5% decrease in the value of its portfolio in the second half.
Bakkavor confirms full year expectations in “robust” update
In a full year trading update, the group said like-for-like revenues had risen 3.2% compared to 2017
Marks & Spencer names latest 17 stores earmarked for closure
The retailer wants to take a third of its business online, so it is planning to close more than 100 stores over the next few years which should leave it with a smaller, better-located estate
How JD Sports bucked the high street doom and gloom once again
Analysts reckon it’s a combination of factors, although most of thing come back to the same thing: JD sells things that today’s youth want to buy
Investments and investor services
FTSE 100 closes lower as Chinese data and Brexit weighs
Footsie closed down over 63 points at 6,855 on the day
Tesco, Next and Ted Baker among the festive winners as high street survives Christmas - but only just
Below we provide a cut-out-and-keep guide to the major quoted retailers and how the quoted retailers performed
Archive
Moss Bros to wrap up busy week of Christmas trading updates from high street retailers
The day includes trading updates from retailers Moss Bros and AO World, plus UK gross domestic product data and US inflation figures
M&S posts poor Christmas trading but keeps full year guidance as turnaround on track
“The combination of reducing consumer confidence, mild weather, Black Friday, and widespread discounting by our competitors made November a very challenging trading period,” said chief executive Steve Rowe
Archive
FTSE 100 closes higher as Wall Street shares mixed; optimism over trade talks fades
The Footsie has been dipping below and above the 6,800 mark throughout the day
Don’t expect much festive cheer in M&S’s Christmas trading update
Clothes sales have long been poor but a recent slowdown in the previously resilient food division has spooked investors
Archive
Debenhams set to disappoint again on Thursday
“Debenhams hasn’t updated on trading since 25 October and we know from many of its competitors that November was a terrible month for retailers and December is also likely to have been a struggle”
Morrisons to slash prices as German discounter Aldi reports record Christmas
Aldi sold almost £1bn worth of food and drink in the run-up to the holiday season, and Morrisons has responded by slashing the prices of more than 900 products
Investments and investor services
FTSE 100 closes lower after struggling to gain ground all day
The FTSE 250 on the other hand, a better gauge of UK companies, added over 180 points at 17,976
Archive
Slew of Christmas updates from retailers to dominate after Next's positive seasonal surprise
The Week Ahead will bring trading updates from the likes of M&S and Debenhams on the general retail front and all three of the listed UK supermarket groups – Morrisons, Sainsbury’s, and Tesco
Investments and investor services
FTSE 100 finishes in red on China worries and as US benchmarks tumble
The UK blue-chip benchmark finished around 41 points lower at 6,692
M&S balanced on a knife-edge ahead of upcoming trading news with ASOS update unsettling
On January 10, we’ll find out just how kind or terribly unforgiving the market has been to Marks & Spencer - it will also represent a key make-or-break milestone for its chief executive Steve Rowe
Marks & Spencer investors braced for a tough Christmas after ASOS warning
With consumer confidence at its lowest ebb for almost a year, just what is in store for M&S
Archive
FTSE 100 closes lower as US sinks with Santa rally looking a vague memory
At the close, the FTSE 100 was down 71.93 points, or 1.1% at 6,773.24, just above the session low of 6,761.37 and well below the early high of 6,845.17.