Marks And Spencer Share Discussion Threads

[sarkasm] 18/8/2020 21:12

RETAILWEEK

People
Marks & Spencer job cuts – harsh medicine, but necessary

By George MacDonald18 August 2020


Marks & Spencer’s biggest round of job cuts ever has sent shockwaves through retail. Around 7,000 roles will be axed – and that is on top of 950 redundancies revealed just a month ago.

Perversely, given the number of jobs being lost, there is actually some reassurance in today’s update that its strategy remains fundamentally unchanged. It may be progressing uncomfortably but, rather than having to jettison its plans, M&S is speeding them up – a sign of longer-term confidence in contrast to the insolvency processes underway elsewhere in the industry.

[robot ic1] 18/8/2020 19:47

7000 JOB M&S PACKAGES ANOUNCED

[robot ic1] 18/8/2020 19:36

"These are M&S Lean cuts" .
"Nobody does it like us".

stickers available on ebay .My friend said

[robot ic1] 18/8/2020 19:18

Debsdowner .The car stickers are being manufactured in china now

[debsdowner] 18/8/2020 19:12

New M&S slogan


This is not just any job cuts, this is M&S job cuts...

[xxxxxy] 18/8/2020 18:47

859. Marks sell buy date short. But good at end. But found better than given end date.Lidl etc sell buy dates longer. But don't taste so good at end.Marks seem to have a good 'buffer'. Lidl etc has none at all.Just view point.

[chatterbox] 18/8/2020 18:41

They should forget their clothes, the loyal customers are a dying breed and the 'new' old like Zara...etc

Keep essentials, socks, tights,etc... everyday essentials, home.

M&S need to address their sell by dates on food, usually only a few days.... otherwise I love the quality and difference of their food and wine

[debsdowner] 18/8/2020 18:01

ASDA online sales doubled in last quarter during the pandemic



BBC MARKS :


Two decades of restructuring and the last 4 months the biggest so far

[debsdowner] 18/8/2020 17:50

Retail Week

Marks & Spencer job cuts – harsh medicine, but necessary
By George MacDonald18 August 2020

Marks & Spencer Newbury

Marks & Spencer’s biggest round of job cuts ever has sent shockwaves through retail. Around 7,000 roles will be axed – and that is on top of 950 redundancies revealed just a month ago.

Perversely, given the number of jobs being lost, there is actually some reassurance in today’s update that its strategy remains fundamentally unchanged. It may be progressing uncomfortably but, rather than having to jettison its plans, M&S is speeding them up – a sign of longer-term confidence in contrast to the insolvency processes underway elsewhere in the industry.



Agreed MARKS not going down the insolvency route and its a good job to as the company would be delisted, but its not out of the woods yet and its early days for the strategy.

The company is struggling so much that they have had to roll a 3 year strategy into 1 year or put it this way the next 3 months as that is when the reduna=dancies will take place.

There will be quite a few who are elderly employees not concerned as they will get a redundancy package but those younger will be in tears tonight.

The true redundancy figure is near 8,000 when you add on the 950 jobs revealed a month ago, but there wasn't an official announcement then so maybe the writer got his facts wrong as some do. I read the same somewhere else today.

[debsdowner] 18/8/2020 17:40

Covid infections rise again to 1,089, deaths 12, people in hospital 896 and 73 people on ventilators



Deaths are down but the way they do the stats has altered

[debsdowner] 18/8/2020 16:54

On other retail news SOSANDER who I have never heard before until today remains optimistic as it revenue sours

"After signing a deal with John Lewis and Next, the online womenswear retailer will see its products sold on the companies’ websites from the next quarter.

For the year to March 31, Sosandar saw revenue rise by 103 per cent to £9.03 million, compared to £4.44 million in the prior period."



However losses increase its a tiny company and as such its almost irrelevant to retail clothing.

"

[debsdowner] 18/8/2020 16:53

HAMLEYS CEO to resign after only after only 6 months, this points to grim trading and the need for new management

[debsdowner] 18/8/2020 16:25

Doesn't look good for Fenwick, they were losing sales before the pandemic, the current year going to be even worse.

[buywell3] 18/8/2020 16:17

Get rid of the clothing it don't work now

buywell said this over a year ago

[philanderer] 18/8/2020 15:46

Buffett's been buying Barrick Gold shares ;-)

[debsdowner] 18/8/2020 15:35

Fenwick losses deepen to £49 million amid sales drop



"Fenwick’s annual loss has widened after a drop in sales during a full-year period that doesn’t even include the height of the coronavirus pandemic.

According to its results for the year ending January 31 this year, before Covid-19 gripped the UK and much of the world in a crisis, the department store chain’s overall loss came in at £49 million.

This is deeper than the loss of £46 million recorded in 2019.

Fenwick said net sales dropped nine per cent to £271.5 m in the same full year period, which it said reflected “the difficult trading environment”.

However, the family-owned retailer narrowed its operating losses narrowed to almost £11.8 million – a significant improvement on the operating loss of £17.3 million recorded in 2019.

Fenwick operates from nine stores across in England, all of which reopened on June 15 when non-essential retail lockdown restrictions were eased."

[debsdowner] 18/8/2020 15:26

The Motley Fool is unattracted to the MARKS share price

[debsdowner] 18/8/2020 15:11

Peel Hunt attacks MARKS & SPENCER with red ink, and recommends selling out of the company:



The share center disagrees citing 4% dividend but that has been completely cut and who knows if it will return, they also say its core customers disposable income rising, I don't know where they get that from as disposable incomes seem to me to be falling.

The elderly who used to be loyal customers now ending up in residential care or indeed dying off, the baby boomers in the 50s now past retirement and in the next few years will be the next ones in residential care.

The younger to middle age moved on now to ZARA and other brand names.

[debsdowner] 18/8/2020 14:57

Kinwah

MARKS is indeed well past its sell by date !

Despite years and years of promises to turn the company round they still are losing customers and shareholders faith.

Now 1 in 11 staff going in the biggest restructuring yet to date which will come at huge cost in redundancies. This will hit the balance sheet hard.

The company may indeed be improving their food offering but they are set to lower margins to try and claw back more of the food market.

Its a big gamble in a fast moving market with all the big supermarkets in fierce competition sooner or later one will have to go bust and that was Justin King warned before he left SAINSBURY a few years ago.

The population isn't growing that much either and the average consumer got less money in their pocket.

It looks to me like the £ level could be breached yet again on the downside, it all depends now what the analysts say.

[careful] 18/8/2020 14:32

over £5 less than 5 years ago.

who but an idiot would buy shares.

[philanderer] 18/8/2020 14:07

Horrible though it is for staff, Marks & Spencer's cuts are a realistic move in the right direction





18th aug Liberum buy -
18th aug Peel Hunt hold -

[kinwah] 18/8/2020 14:05

It never fails to amaze me how badly managed my local M&S food store is. You'd think it would be straightforward to fill the shelves in date order so they sell the older stuff first and they'd order stuff people want to buy. They always seem to have the wrong salads and huge quantities of stuff with today's sell-by date which they haven't got round to yellow labelling. Tesco never seem to have this problem. Fortunately I really like the quality of M&S salads so I will tolerate the frustration - probably like the rest of their customer base.