Marks And Spencer Share Discussion Threads

[darrin1471] 16/3/2023 11:20

I pointed out in post 12624 on Jan 9th that John Lewis were in difficulty. Starting at the top.
"Dame Sharon White, ex Ofcom ex civil service. No retail experience on £990k pa"

Now JL appoint a Nish Kankiwala as CEO. Somebody with no retail experience.



“They need someone at the helm who understands retail,” said Detail Executive Search managing director Paul Meechan, explaining he was flummoxed by the announcement.

“If you’ve got a business that isn’t doing great in retail, you bring in the best retailer you can afford to get it sorted.”

“With the way retail is right now, to bring yet another person at the top of the business to help manage it through quite possible the most difficult retail period makes absolutely no sense to me.”

Another headhunter labelled Kankiwala’s appointment as “bizarre”.

Bad news for JL is good news for MKS

[johnwise] 16/3/2023 08:50

John Lewis axes staff bonus as it slides to £635m loss

[johnwise] 16/3/2023 08:30

Brits face biggest tax burden since World War Two as record drop in household income expected after Budget

[debsdowner] 15/3/2023 16:58

Footsie 100, 250 snowballed as the day progressed as Dow worsens.

[debsdowner] 15/3/2023 16:55

Zara owner Inditex Europes larges retailer sees profits rise

[darrin1471] 15/3/2023 14:31

European indices were all down pre budget. No GBP currency movement during speech.

Also ECB rates decision tomorrow which becomes more interesting with the current banking issues.

[debsdowner] 15/3/2023 14:16

darrin,

I think it is mixed part the banking crisis and also budget.

[darrin1471] 15/3/2023 14:12

Retailers being hit hard but agree this is a banking issue and not the budget.
FTSE, DAX, CAC all down 3%. IBEX 4%
Hoping 145p marks the bottom of the trading range. NEXT report in 2 weeks which may add momentum again.

[eeza] 15/3/2023 11:36

Banking crisis - Credit Swiss suspended & a couple of dodgy Italian banks in the mix.

[debsdowner] 15/3/2023 11:33

Markets being hammered today OCADO down circa 7% to another low. Probably due to the budget being conservative and few give aways apart from freezes on fueld duty. Higher taxes kick in which is bad for retailers, MARKS daily falls one of the biggest for a while.

[xxxxxy] 15/3/2023 11:11

9:47AMZara owner's profits surge as shoppers return to storesZara owner Inditex has revealed record earnings as shoppers flooded back to stores despite the rising cost of living.The world's largest fashion group revealed that earnings increased by a fifth to €8.6bn (£7.6bn) in 2022 compared with the previous year.The group, which also owns the Pull & Bear and Bershka brands, said it benefited from a bounce-back in store sales following the pandemic and efforts to reduce costs.Sales increased by 17.5pc to €32.6bn (£28.8bn) for the year, it added, amid 23pc growth from shoppers at its high street stores.Inditex told shareholders that online traffic and store sales grew "markedly" during 2022 and has continued to increase in the following months.Store and online sales rose by 13.5pc over the period between February 1 and March 13, compared with a year earlier, as it said its spring/summer collections were "well received" by shoppers.... Daily Telegraph

[debsdowner] 14/3/2023 19:42

Primark launches repair initative to help in sustainability



CMA not happy with ASDA buying COOP petrol stations citing it would push up petrol prices



This is what happened when the Supermarkets bough out all independants prices have gone up and automobile associations will confirm that.

[xxxxxy] 14/3/2023 18:48

Take note MKS.

[darrin1471] 14/3/2023 13:32

M&S brings Nobody’s Child seasonal pop-up shops to 30 UK stores.



A logical progression from selling 3rd party brands on the MKS website

[darrin1471] 13/3/2023 10:37

Private investor panic. Expect to see a full bounce back later today IMO

[debsdowner] 13/3/2023 09:43

Footsie 100 and 250 worsening the last half hour and I suspect some profit taking as MKS made a new short term high recently.

[debsdowner] 13/3/2023 09:10

Market in meltdown again despite HSBC buying SVB bank. Worry is there may be contagion to other banks and risk rising.

[xxxxxy] 12/3/2023 19:49

Swedish fintech Klarna has posted its biggest annual loss to date in 2022, but claims it's made "clear progress" to return to profitability, according to annual results released Tuesday. Annual losses swelled by 47% to reach SEK10.4bn ($1bn) in the 12 months to December 31 2022, up from SEK7.1bn ($680m) in 2021 - it was a tough year for the fintech, which saw its valuation slashed by 85% to $6.7bn.Klarna, which wore the crown as Europe's most valuable private tech company until its downround last summer, also made two rounds of layoffs last year - cutting more than 700 jobs in total. At the same time, its results show that CEO Sebastian Siemiatkowski's total renumeration increased by 35% to SEK13.2m ($1.3m). ... Sifted

[debsdowner] 12/3/2023 18:46

Issa Broths the latest to seek a sale and lease back of its properties due to rising interest rates

[debsdowner] 12/3/2023 14:27

SVB bank also adding to share rout and contagion worry in US.

[xxxxxy] 11/3/2023 17:42

There's trouble ahead......Asda has kicked off a review of its £8.6bn property estate as its owners explore options to reduce the supermarket's costly debt.The billionaire Issa brothers, flanked by private equity backers TDR Capital, are targeting the sale and leaseback of Asda's supermarket estate to combat soaring interest bills.Market sources said property experts have been called in to assess the prospects for the supermarket's estate. Freehold properties were valued at £8.6bn, according to Asda's 2021 annual report. Asda Group is yet to file its 2022 annual report with Companies House.It is understood that Asda's owners expect to retain a sizable "underpin" of freehold properties even if many of its sites are sold to investors and then leased back.The Issas and TDR shocked the City two years ago by acquiring Asda in a £6.8bn debt-fuelled deal in which they injected only £800m in equity.Since then, the cost of living crisis and rising interest rates have piled pressure on the business and paying down debt has become a priority in recent months..... Daily Telegraph

[darrin1471] 10/3/2023 13:42

US labor statistics should boost shares.