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Marks and Spencer Group PLC (MKS.L)

MKS.L on London Stock Exchange

331.90GBp
24 Mar 2017
Change (% chg)

-5.40 (-1.60%)
Prev Close
337.30
Open
336.10
Day's High
336.10
Day's Low
330.30
Volume
6,716,212
Avg. Vol
8,796,651
52-wk High
448.00
52-wk Low
255.10

Latest Key Developments (Source: Significant Developments)

Marks And Spencer to cut about 525 jobs at UK head office
Monday, 5 Sep 2016 06:38am EDT 

Marks And Spencer Group Plc : Proposed changes to UK head office structure . It will be entering in to consultation with its employees with regards to proposals to make significant changes to its UK head office structure . Proposals have been developed by M&S following a detailed review of organisation and an analysis of its processes and do not impact on M&S store employees . Proposals are centred on plans to reshape and redefine organisation by reducing number of head office roles by a net reduction of c.525 roles . It is expected that annualised operating cost savings would be c.1 pct of UK cost base . Should proposals go ahead they would deliver significant cost savings . There would be a non-underlying cost of c.15 mln stg which includes changes to senior management team that have already taken place . Cost growth guidance for current year remains unchanged at c.3.5 pct .Also reduce number of roles permanently based in Central London by c.400, across it and logistics.  Full Article

M&S CEO says Q1 clothing sales fall "what I expected to see"
Thursday, 7 Jul 2016 03:06am EDT 

Marks & Spencer : CEO says Q1 clothing numbers "what I expected to see" . CFO says firm about 90 percent hedged for current year . CEO says about 5 percent of Q1 clothing like-for-like sales fall due to timing changes of sale, less promotions . CEO says "very encouraged" by volume increases in clothing lines where prices cut . Shares up 1.6 percent as firm maintains FY guidance despite worse than expected Q1 clothing sales fall Further company coverage: (London Newsroom) ((UK.online@Reuters.com; +44 (0)20 7542 7717;)).  Full Article

M&S CEO says won't put timeframe on recovery of clothing business
Wednesday, 25 May 2016 03:37am EDT 

Marks & Spencer : CEO Steve Rowe says expects analysts' consensus profit forecasts for current, next year to come down . CEO says won't put timeframe on recovery of clothing and home business . Says review of costs to focus on "simplifying processes" . CEO says UK clothing market "very difficult at the moment" Further company coverage: (London Newsroom) ((UK.online@Reuters.com; +44 (0)20 7542 7717;)).  Full Article

Marks and Spencer Group Plc recalls Twist & Turn Rattle - Datamonitor
Sunday, 20 Sep 2015 08:00pm EDT 

Marks and Spencer Group Plc:Marks & Spencer Group PLC has recalled Twist & Turn Rattle due to manufacturing fault - Datamonitor.Whilst no injuries have been reported, due to the manufacturing fault there is a possibility that the balls contained inside could be released, presenting a potential hazard.As the safety of customers is the top priority, M&S is issuing a product recall notice for the small number (c.400) sold.  Full Article

Marks and Spencer Group proposes final dividend
Wednesday, 20 May 2015 02:01am EDT 

Marks and Spencer Group PLC:Proposes a final dividend in respect of the year ended March 28 of 11.6 pence per share.Payable on July 10 to shareholders on the register of members as at close of business on May 29.  Full Article

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