MARKS&SPENCER news and archive

Analysts expect Next’s sales to be 13 percent down year-on-year

New York - The first week of January is crucial as main apparel retailers in the UK share their Christmas trading updates. After John Lewis enjoyed the benefits of last-minute shopping, the City expects Next to report disappointing figures, forecasting in-store sales could be down as much as 13 percent. Analysts at Jefferies said last week that...

BusinessFeatured

Hundreds of companies sign global commitment to eliminate plastic pollution at source

Over 290 companies representing 20 percent of all plastic packaging produced globally have signed a global commitment to end plastic waste and pollution at the source. The initiative was led by UK charity Ellen MacArthur Foundation, in collaboration with UN Environment. Fashion companies such as H&M, Walmart, Burberry, Target and Marks & Spencer...

Business

Marks & Spencer automates customer service, moves switchboard employees to stores

After partnering up with Microsoft to incorporate artificial intelligence in its business and setting up a retail data academy to step up its employees’ “data literacy”, Marks & Spencer has taken one more step towards becoming a more digital-savvy retailer. This time, it has joined forces with cloud communications platform Twilio to adopt a...

Report

M&S partners with Founders Factory to invest in startups

Marks & Spencer and startup accelerator Founders Factory have joined forces to launch Founders Factory Retail, a joint venture that will invest and grow technology startups focusing on retail. “Partnering with Founders Factory as their exclusive retail partner gives M&S access to a global network of start-ups and entrepreneurs which will provide...

BusinessFeatured

How do consumers feel about artificial intelligence?

Several fashion retailers have announced artificial intelligence projects recently, including Marks & Spencer, Net-a-Porter, and House of Fraser. The latest -- and perhaps largest -- of AI endeavors in the realm of fashion was launched last week by China’s e-commerce giant Alibaba, which opened an AI concept store in partnership with Guess. But...

Fashion Featured

Plus-size clothing ranges leading to higher obesity rates in the UK, says study

UK retailers’ decision to offer plus-size clothing is leading people to underestimate the health risks of being overweight or obese, according to a new study by sociologist Raya Muttarak, from the University of East Anglia (UEA). “Seeing the huge potential of the fuller-sized fashion market, retailers may have contributed to the normalisation of...

Report

M&S will not pay bonuses to its directors after annual profits plunge

Marks and Spencer Plc (M&S) has decided not to pay bonuses to its directors on the back of fall in profit. The company said in its annual report that group PBT was below the threshold for bonus payments in the business to begin. As such, the committee exercised its discretion and no bonus payments were made to directors. Group profit before...

Report |ANALYSIS

Marks & Spencer escapes fall from FTSE 100 ‘in extremis’

Marks & Spencer escaped demotion from the British benchmark index by a whisker. The retailer faced the risk of demotion from the FTSE 100 for the first time since the index was formed over 30 years ago. Mark & Spencer, whose shares are down 5.5 percent this year with a market cap of 4.86 billion pounds, escaped demotion from the index in the...

ManagementFeatured

Marks & Spencer sees profits before tax decline 5.4 percent for FY18

London - Marks and Spencer Group Plc saw its profit before tax and adjusting items fall 5.4 percent to 580.9 million pounds for the 52 weeks to March 31, 2018 down from 613.8 million pounds in 2017 as its transformation plan is well underway. The department store group attributed this decline to the decrease in Food gross margin as it announced...

Management |UPDATE

Marks & Spencer aims to shut 100 stores by 2022

Marks & Spencer has earmarked 14 more UK stores for potential closure as it continues to restructure its UK store estate in line with its wider turnaround plan and aim to capture a third of its sales online. M&S is set to close over 100 stores by 2022, including 21 stores which have already closed and the 14 stores proposed for closure. In...

ManagementFeatured

UK’s retail Armageddon, take two: M&S and Next expected to shutter dozens of stores

Marks & Spencer is reported to be shutting 100 of its large clothing and food shops in an attempt to revert poor sales and shrinking profits. It has already closed 20 as part of a plan announced 18 months ago to significantly reduced the space dedicated to worse-performing stores. On a related note, property consultancy firm Colliers...

Management |ANALYSIS Featured

Marks & Spencer, at risk of being demoted from FTSE 100 if shares keep losing value

The beloved British retailer might be falling off the FTSE 100, as a result of a sustained loss of market value. Marks & Spencer is facing the risk of demotion from the UK’s largest stocks benchmark index for the first time since the index was formed over 30 years ago. M&S shares have fallen in value by more than a fifth over the past year,...