Marks and Spencer Group PLC (MKS.L)
19 Jan 2017
LONDON Marks & Spencer (M&S) soundly beat forecasts for Christmas trading with its first quarterly increase in clothing and homeware sales in nearly two years, delivering a welcome boost for new boss Steve Rowe.
* First market share gain for full-price clothing in seven years
LONDON (Reuters Breakingviews) - Full-priced fashion is the new black. Strong pre-Christmas sales at UK retailers Marks & Spencer and Debenhams show efforts to wean customers off promotions are paying off. Fewer discounts should translate into better margins. But the temptation to hoist the “sale” signs may return as inflation and weaker growth squeeze British consumers.
LONDON, Jan 12 Marks & Spencer soundly beat forecasts for Christmas trading as it reported its first quarterly rise in underlying clothing and homeware sales in nearly two years, delivering a boost to new boss Steve Rowe.
SYDNEY Australia's top grocer Woolworths Ltd said on Wednesday it will sell its chain of petrol stations to BP plc for A$1.8 billion ($1.3 billion), the latest disposal in a bid to return the company's focus to its core supermarket business.
LONDON, Nov 8 Marks & Spencer chief Steve Rowe believes "Mrs M&S" can save Britain's biggest clothing chain as it retreats from the battle for younger shoppers who increasingly favour fast fashion trailblazers such as Zara.
* Retailer to close about 30 UK stores, switch 45 to food only
LONDON, Nov 8 British retailer Marks & Spencer does not plan to raise its prices on clothing and other goods to compensate for the fall in the pound caused by the Brexit vote, its chief executive said on Tuesday.
LONDON, Nov 8 Britain's Marks & Spencer said on Tuesday it would shut stores at home and abroad, with its new chief executive seeking to cut costs as part of a revival plan.
LONDON Struggling British retailer Marks & Spencer is expected to announce plans next week to shut some stores at home and abroad, with analysts forecasting a slump in first-half profit and another fall in clothing sales.