ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Registration Strip Icon for discussion Register to chat with like-minded investors on our interactive forums.

MKS Marks And Spencer Group Plc

234.40
-2.40 (-1.01%)
01 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Marks And Spencer Group Plc LSE:MKS London Ordinary Share GB0031274896 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -2.40 -1.01% 234.40 234.90 235.10 238.20 233.50 238.20 28,920,478 16:35:04
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Misc General Mdse Stores 11.93B 363.4M 0.3699 6.36 2.31B
Marks And Spencer Group Plc is listed in the Misc General Mdse Stores sector of the London Stock Exchange with ticker MKS. The last closing price for Marks And Spencer was 236.80p. Over the last year, Marks And Spencer shares have traded in a share price range of 136.10p to 293.20p.

Marks And Spencer currently has 982,420,226 shares in issue. The market capitalisation of Marks And Spencer is £2.31 billion. Marks And Spencer has a price to earnings ratio (PE ratio) of 6.36.

Marks And Spencer Share Discussion Threads

Showing 28151 to 28173 of 28175 messages
Chat Pages: 1127  1126  1125  1124  1123  1122  1121  1120  1119  1118  1117  1116  Older
DateSubjectAuthorDiscuss
03/3/2024
10:13
The Ocado dispute with M&S should be seen in the larger negotiation. I would of thought neither side wants to be 50/50 partners in the long term.
Ocado wants the best price and M&S wants to pay as little as possible.
The original price was £750m for 50%. £156.3m of that was a final payment dependant upon performance. If not paid then the price for 50% would be £593.7m. The price paid for the first 50% is going to dictate the price of the second 50%. Are M&S shareholders going to be happy paying more for the other 50% if Ocado retail is only at breakeven.
Another factor is that Ocado are going to redefine Ocado retail as an investment from April 2025

darrin1471
02/3/2024
22:47
BBC News - Ocado warns M&S of legal action over food deal



Please do your own research as always and always follow FCA guidelines.

qantas
02/3/2024
08:57
Daily Mail readers in the comments section say although they dislike Gove they think he was rightr to object to the demolition.

The new bullding is awful compared to the Art Deco building and I think it coulld be converted adequately rathr than demolition.

I alos happen to think it is an idle threat to close down the building if Marks cannot get planning permission to demolish and rebuild.

debsdowner
01/3/2024
17:36
Wonder whether there will be an appeal?
debsdowner
01/3/2024
11:55
M&S wins Marble Arch legal battle as Gove’s decision branded ‘unlawful’


The High Court has ruled that Michael Gove’s decision to block M&S’ redevelopment plans of its Marble Arch flagship branch was “unlawful”.

M&S launched a planning appeal last month, following the secretary of state’s decision to reject plans that would see the Art Deco building on London’s Oxford Street demolished and replaced with a newly-built 10-storey complex.

The High Court judge agreed with the retailer that Gove had “misinterpreted and wrongly applied planning policy” by blocking its proposals and as such, he will have to make a decision again on whether to approve the plans or not.

johnwise
01/3/2024
10:59
M&S wins Marble Arch legal battle in blow for Michael Gove

Court rules Housing Secretary wrong to reject retailer’s plans for flagship store

philanderer
01/3/2024
10:30
UK footfall the lowest since the pandemic, this is mainly down to the wettest February since records began. The other problem with the wet and gloomy weather is consumers are also less inclined to buy online as they wont need new stuff as they arent going out.

I suspect the wet weather and cautious outlook the reason why MARKS share price has weakened since results.



It will now take further outlook statement for a rapid rebound imo. I think the share is a hold from here rather than a sell.

debsdowner
01/3/2024
07:55
https://www.ft.com/content/70ef625d-ef64-49e6-82dc-41a4b0789794
blackhorse23
01/3/2024
07:51
Tough love
xxxxxy
01/3/2024
07:50
But M&S gave up pretending it had lived up to expectations long ago. Last year, chairman Archie Norman told investors that he was "not happy" with the performance. There was "work to do", he was forced to admit after shareholders had asked when they could expect to see "a proper return".Stuart Machin, the M&S chief executive, was even more outspoken in November. Hannah Gibson, who runs the joint venture, had asked him to be more positive, but he pointed out: "The fact is, when we've just had a half-year loss of £23m from Ocado ... we're positively dissatisfied."The partnership is now in danger of unravelling altogether as the two retailers clash over whether M&S should make a final payment tied to the joint venture. M&S still owes Ocado £191m but it has withheld the remainder after key performance measures weren't met....Daily Telegraph
xxxxxy
01/3/2024
07:48
Something is brewing here.Not invested iMKS....at moment .
xxxxxy
01/3/2024
07:47
Ocado has failed to deliver for M&S customersThe repeated dismissal of old-fashioned values has come back to bite the online apostlesBEN MARLOWASSOCIATE EDITOR...good read...daily Telegraph
xxxxxy
29/2/2024
16:20
OCADO fires back as MARKS refuses final payment spat..
debsdowner
29/2/2024
13:51
Ocado could take Marks & Spencer to court amid performance row
philanderer
29/2/2024
09:43
That's a bit sour ....No longer invested in MKS
xxxxxy
29/2/2024
09:42
Ocado has threatened to sue Marks & Spencer over a multi-million pound payment for their online grocery partnership amid a growing row over performance.The pair's £750m joint venture Ocado Retail has failed to meet targets laid out when M&S agreed to set it up in 2019, Ocado said.This means Ocado will not automatically receive a final instalment of £191m from M&S....Daily Telegraph
xxxxxy
29/2/2024
07:52
Deconsolidation of Ocado Retail
Ocado Group plc and M&S are both joint equal shareholders of Ocado Retail Limited. At present the results of Ocado Retail Limited are consolidated into the results of Ocado Group plc as Ocado Group plc are deemed to be the controlling shareholder via certain tie-breaking rights. Our current intention is to give up those tie-breaking rights to M&S in early April 2025. There will be no change in the economic interest of both shareholders in Ocado Retail Limited, or any consideration paid by M&S, as a result of this proposed change. After giving up the tie-breaking rights to M&S, we expect that the results of Ocado Retail Limited will cease to be consolidated into the results of Ocado Group plc and will instead be equity accounted for as an investment from this point onwards. From this point, M&S would have the right to consolidate the results of Ocado Retail Limited pursuant to the terms of the original Shareholder Agreement signed in August 2019 when the Joint Venture was formed.

ccsicemanandrew
29/2/2024
07:39
Fair value measurement - contingent consideration due from M&S

At the reporting date, the fair value of contingent consideration due from Marks and Spencer Holdings Limited ("M&S"), agreed on the disposal of 50% of Ocado Retail Limited ("Ocado Retail") to M&S in August 2019 is 28.0m.

Under the terms of the disposal, a final payment may become due from M&S to Ocado Group of £156.3m plus interest, dependent on certain contractually defined Ocado Retail performance measures (the 'Target') being achieved for the FY23 financial year (the 'Contingent Consideration'). The contractual outcome is binary, meaning if the Target is achieved, it will trigger the payment in full of £190.7m (£156.3m plus £34.4m of interest, assuming a payment date of August 2024). Conversely, should the Target not be achieved, no consideration would be payable by M&S. There is no formal arrangement for a payment between zero and £190.7m.

The contractual arrangement with M&S expressly provides for the Target to be adjusted for certain decisions or actions taken by Ocado Retail management that differ from the assumptions used in the discounted cash flow model which underpinned the sale transaction.

The actual FY23 performance is below the Target required for automatic payment of the Contingent Consideration. However, the Group has identified a number of significant decisions and actions taken by Ocado Retail management that it believes require adjustment to the Target under the terms of the contractual agreement with M&S. The adoption of these adjustments, if established, would result in Ocado Retail achieving the Target (as adjusted) and the full payment of £190.7m.

The contract requires the shareholders to engage in good faith discussions concerning possible adjustments, and we intend to pursue that process, however there can be no assurance that an adjustment proposed by one party will be eventually accepted by another or that a wider agreement will be reached and if so formal legal proceedings may well result. It would be prudent to assume that in any negotiation or legal proceedings M&S would propose adjustments to the Target of their own.

The fair value of £28.0m recorded in respect of the Contingent Consideration under IFRS 13 has been estimated using the expected present value technique and is based on a number of probability-weighted possible scenarios that a market participant would consider in valuing the contract reflecting the facts and circumstances that existed at the balance sheet date. It is management's belief that the fair value currently recorded is significantly lower than the amount that Ocado may receive at the point of settlement.

darrin1471
29/2/2024
07:38
Fair value measurement - contingent consideration due from M&S

At the reporting date, the fair value of contingent consideration due from Marks and Spencer Holdings Limited ("M&S"), agreed on the disposal of 50% of Ocado Retail Limited ("Ocado Retail") to M&S in August 2019 is 28.0m.

Under the terms of the disposal, a final payment may become due from M&S to Ocado Group of £156.3m plus interest, dependent on certain contractually defined Ocado Retail performance measures (the 'Target') being achieved for the FY23 financial year (the 'Contingent Consideration'). The contractual outcome is binary, meaning if the Target is achieved, it will trigger the payment in full of £190.7m (£156.3m plus £34.4m of interest, assuming a payment date of August 2024). Conversely, should the Target not be achieved, no consideration would be payable by M&S. There is no formal arrangement for a payment between zero and £190.7m.

The contractual arrangement with M&S expressly provides for the Target to be adjusted for certain decisions or actions taken by Ocado Retail management that differ from the assumptions used in the discounted cash flow model which underpinned the sale transaction.

The actual FY23 performance is below the Target required for automatic payment of the Contingent Consideration. However, the Group has identified a number of significant decisions and actions taken by Ocado Retail management that it believes require adjustment to the Target under the terms of the contractual agreement with M&S. The adoption of these adjustments, if established, would result in Ocado Retail achieving the Target (as adjusted) and the full payment of £190.7m.

The contract requires the shareholders to engage in good faith discussions concerning possible adjustments, and we intend to pursue that process, however there can be no assurance that an adjustment proposed by one party will be eventually accepted by another or that a wider agreement will be reached and if so formal legal proceedings may well result. It would be prudent to assume that in any negotiation or legal proceedings M&S would propose adjustments to the Target of their own.

The fair value of £28.0m recorded in respect of the Contingent Consideration under IFRS 13 has been estimated using the expected present value technique and is based on a number of probability-weighted possible scenarios that a market participant would consider in valuing the contract reflecting the facts and circumstances that existed at the balance sheet date. It is management's belief that the fair value currently recorded is significantly lower than the amount that Ocado may receive at the point of settlement.

darrin1471
28/2/2024
07:25
Marks & Spencer revival reflected in Waitrose woes


Marks and Spencer Group PLC (LSE:MKS) sales moved higher again as its growing grip on the upmarket section of the retail grocery market was confirmed again with more lacklustre numbers from key rival Waitrose.

Which? readers yesterday voted M&S the UK’s most popular supermarket for a third year running , with the chain citing gains from Waitrose as one of the reasons for its recent popularity.

Waitrose sales were up 3.8% over the past year compared to 5.1% growth across the wider industry in the same period, including M&S, data from market researcher Kantar showed.

johnwise
28/2/2024
00:34
'M&S makes dig at Aldi after victory in copying claim - Aldi 'considering position''
philanderer
27/2/2024
16:48
It's just a reference to the weekends Times article. Ocado say no information will be given in this weeks update and talks are on going.No decision has been made by MKS yet.
ccsicemanandrew
27/2/2024
16:01
Missed this important article, MARKS to withhold multi million payment to Ocado for missing targets..payment could help the bottom line considerably !



Also Marks wins it's latest battle in appeal court with ALDI over gin patent infringement which could amount to a few hundred grand or more.

debsdowner
Chat Pages: 1127  1126  1125  1124  1123  1122  1121  1120  1119  1118  1117  1116  Older

Your Recent History

Delayed Upgrade Clock

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

Support: +44 (0) 203 8794 460 | support@advfn.com