Marks And Spencer Share Discussion Threads

[debsdowner] 19/9/2024 13:53

NEXT loses equal pay row and warns it may have to close stores more so when leases come up for renewal;

[philanderer] 19/9/2024 13:42

M&S is delivering, says Redwheel

Redwheel managers Nick Purves and Ian Lance believe Marks & Spencer (MKS) can continue to deliver the strategy that has pushed shares to a seven-year high.

The Citywire Elite Companies A-rated company sits in the top-10 holdings of their Temple Bar (TMPL) investment trust, making up 4.5% of the £901m portfolio.

Over the summer, shares in the retail stalwart hit their highest level since 2017 and the managers said ‘the company continues to perform well from an operational perspective and is making good progress towards its longer-term operating margin targets in food and clothing as well as taking higher market share.’


Citywire.com

[debsdowner] 19/9/2024 11:00

QANTAS

Good for both OCADO and MARKS with MKS reaching new highs.

[qantas] 19/9/2024 08:56

Online grocer and logistics group Ocado surged after it upgraded its revenue guidance for Ocado Retail - its joint venture with Marks & Spencer - following a strong third-quarter performance which saw retail revenues jump 15.5%.

[qantas] 19/9/2024 07:04

Good news

Ocado Group PLC Trading Statement
19/09/2024 7:00am
RNS Regulatory News


RNS Number : 7518E
Ocado Group PLC
19 September 2024

OCADO GROUP PLC

19 September 2024



Ocado Retail Q3 Trading Statement



Raising FY24 revenue guidance following continued strong growth; seven consecutive months as the UK's fastest growing grocer1



Ocado Retail Ltd ("Ocado"), a joint venture between Ocado Group plc ("Ocado Group") and Marks & Spencer Group plc ("M&S"), today announces its trading statement for the 13 weeks to 1st September 2024



Highlights

● Q3 Retail revenue grew by 15.5% to £658m. The continued momentum demonstrates the progress made across our strategy of unbeatable choice, unrivalled service and reassuringly good value.

● Volumes (total items) grew 15.4% year-on-year and average orders per week grew by 14.7% to 437k. This was driven by growth in active customers of 10.3% year-on-year to 1.06m as well as improved frequency year-on-year as slot availability and our overall proposition improved.

● Average selling price decreased by (0.4)%, versus UK grocery inflation of 2.0%2 driven by continued investment in price, driving further improvements in value perception. Average basket value was broadly flat at £120.97, as basket size (number of items) was slightly up year-on-year.

● Raising our FY24 Revenue guidance for Ocado Retail to low double digit % growth (previously mid-high single digits % growth). All other aspects of Ocado Group guidance are unchanged.



Key financial drivers



13 weeks

Q3 2024

13 weeks

Q3 2023

Year-on-year change (%)9

Retail revenue (£ million)3

658.0

569.6

15.5

Volumes - total items (million)4

249.9

216.5

15.4

Average orders per week (000s)5

437

381

14.7

Active customers (000s)6

1,060

961

10.3

Average basket value (£)7

120.97

120.72

0.2

Average selling price (£)8

2.75

2.76

(0.4)

Average basket size (items)

44.0

43.7

0.7





Hannah Gibson, Ocado Retail's Chief Executive Officer, said:



"Our strategy remains focused on giving our customers unbeatable choice, unrivalled service and reassuringly good value. We're seeing the momentum of this, with more customers shopping with us more often, getting even better service at better value.



We know what our customers love, and we're focused on our proposition every day. This includes our widest ever choice including more M&S food, more convenience with better availability of delivery slots and products, further improving our high perfect order rate and better value for money through our Ocado Price Promise and our latest Big Price Drop.



We're pleased with the progress we're making and excited about how much more there is to deliver."



FY24 Guidance

Due to the strong performance in the first three quarters of the year, we are upgrading our full year revenue guidance. There is no change to the EBITDA margin guidance issued on 16 July 2024 with the Ocado Group FY24 Half Year results.



Revenue: Low double digit % growth (previously mid-high single digit % growth)

EBITDA: FY24 adjusted EBITDA margin of c.2.5% excluding annual Hatfield fees of £33m



Ocado Group, on behalf of the joint-venture, will be hosting an analyst conference call at 8.00am today. Please use participant number: [phone] and confirmation code: Ocado Q3 - Analyst Call. A replay facility will be available through an on demand link for 90 days following the announcement.



Contacts

● Stephen Daintith, Chief Financial Officer on [phone]

● Nick Coulter, Head of Investor Relations, on [phone]

● Fraser Ramzan, Head of Investor Relations, Marks and Spencer Group plc, on [phone]

● Oliver Hughes at MHP on [phone] or [e-mail]



About Ocado Retail

Online supermarket Ocado.com was established in 2000 and is one of Britain's leading online retailers, now a 50:50 joint venture between Ocado Group plc and Marks & Spencer Group plc. Covering geographies comprising over 82% of UK households, every shopping bag is carefully packed in one of seven distribution centres using market leading software and technology. Shopping is then delivered directly to customers using a network of regional spokes in brightly-coloured vans. With award-winning mobile apps, Ocado Retail delivers a wide range of products, including big-name brands, a range of quality M&S and Ocado own brand products and a non-food selection. Thoughtful service features such as colour-coded bags, digital receipts provided in date order, reminder texts with your driver's name, along with convenient hourly delivery slots complementing award-winning customer service on email, phone and social media.



Notes

1. Kantar

2. NielsenIQ Panel On Demand Homescan from Nielsen Consumer LLC.

3. Retail revenue comprises revenues from Ocado.com and Zoom by Ocado

4. Volumes - total items refers to results of Ocado.com

5. Average orders per week refers to results of Ocado.com

6. Active customers are classified as active if they have shopped at Ocado.com within the previous 12 weeks

7. Average basket value refers to results of Ocado.com

8. Average selling price refers to Ocado.com and is defined as product sales divided by total eaches

9. Growth percentage calculated on a rounded basis

[ccsicemanandrew] 19/9/2024 07:00

OCADO: The group's UK retail business, a joint venture with Marks & Spencer, has reported that revenue rose 15 per cent year-on-year to £658 million in the 13 weeks to September 1. The average basket size, a key metric for online retailers, was a fraction higher at £120.97. Active customers rose to 1.06 million at the end of the quarter, up 10.9 per cent year-on-year.

[ayl30] 19/9/2024 06:06

OCDO retail results today look good, beneficial for MKS

[debsdowner] 18/9/2024 14:10

TESCO is launching a new online imitative....

[debsdowner] 18/9/2024 08:55

coolhanluke

I agree with your comments most were rubbish garments, they will have to do far better going forward but I am not convinced.

I think one of the male designers has been on a different designer programme before but cannot think when.

This sometimes can happen as you have multiple room makeovers as well as would be fashion designers the last few years.

Lets face it you cannot design and stitch together a dress in 4 hours its virtually impossible.

[johnwise] 18/9/2024 07:13

Why the City loves M&S and Sainsbury’s shares

There’s been a flurry of broker upgrades for M&S despite an impressive rally to a seven-year high. City writer Graeme Evans explains why.

[coolhandfluke] 17/9/2024 20:02

Great exposure but rubbish garments. Hope it doesn't turn off existing or prospective new customers.

[debsdowner] 17/9/2024 17:28

Thanks guy's I have edited my post look forward to watching later and assume both of you will as well.

Enjoy the ride in the share price as well more than trebling and nearly quadrupling from it's lows.

Marks a safer stock than all those risky AIM stocks some many gamble on hoping to more than double their money.

[philanderer] 17/9/2024 16:42

Jefferies raises Marks & Spencer price target to 410 (330) pence - 'buy'

[coolhandfluke] 17/9/2024 15:09

Debs. It's on at 8 ITV1

[dicktrade] 17/9/2024 15:07

Actually being screened at 8pm ;-))

[debsdowner] 17/9/2024 14:58

New TV series tonight on ITV at 8.pm "M&S Dress the nation" !

More media press coverage.

[ccsicemanandrew] 16/9/2024 17:19

The performance is unreal.
My best performing stock over the last three years.
I can’t see the upwards trend changing until the results in November.
I think the share price suggests market is expecting results at or above upper end of guidance and also for a big upgrade for next year.
Otherwise the so may fall back a little.

[debsdowner] 16/9/2024 16:10

Marks must be the best performer in the last 2 years unusual for a 250/100 stock.

[qantas] 16/9/2024 14:10

Sharecast News) - RBC Capital Markets lifted its price target on Marks & Spencer on Monday to 400p from 350p as it raised estimates on the 'outperform' rated stock, pointing to sales momentum and the recent re-rating of the UK food retail sector.
The bank said the M&S share price has performed well year-to-date but it sees further upside driven by food outperformance, clothing full price sales and the retailer's strong cash generation.

"Food price and value perception strong," RBC said. "We think other grocery retailers have been more focused on loyalty and the value end of their offers.

"Also, the eating out to eating in trend has helped M&S in our view."

RBC noted that for the latest 12 weeks to 1 September, Kantar data suggested food value growth was 11.7% year-on-year versus the market at +3.4%, with volume growth at +9.4%, versus 1.5% for the market.

"However, M&S' H1 result will be affected by the lack of an Easter food shop and no Coronation this year," it added.

As far as clothing is concerned, RBC said M&S "held its nerve over the summer".

"We note that M&S didn't go on sale until August this year. We also think it has seen a positive margin mix effect from Autograph outperformance," it said.

[zztop] 16/9/2024 09:08

And build 10 story prefabIf Ms don't like it buzz off and build yer prefab elsewhere.