Marks And Spencer Share Discussion Threads

[johnwise] 05/11/2020 09:25

Why is UK’s economic slump worst in world? asks Robert Peston

Another striking characteristic of today’s Bank of England projections is that UK GDP, or national income, is set to shrink by 11% for the whole of 2020, a record.

We are losing more than one in every £10 of our income, one of the worst performances in the world: the fall in US GDP is forecast at “just” 3.75%, the euro-area shrinkage is 6.75% and the global decline is projected at 5.25%.

[debsdowner] 05/11/2020 09:05

Sainsbury cuts a whacking 3,500 jobs



Caterpillar cuts 700 jobs



FT

[debsdowner] 05/11/2020 08:58

robot, dear oh dear, but we both did warn to avoid most of retail.

[robot ic1] 05/11/2020 08:46

Qantas and Debsdowner , Good morning , lockdaown in the uk ,

Argos a lot of shops to shut , thousands of jobs going at Sainsbury's .

Numpty Humptys dont own m/s shares they are liars .

Hammering down here .

Love the look of the chart going down .

[xxxxxy] 05/11/2020 08:39

One of Britain's largest supermarkets, Sainsbury's (SBRY.L) has warned that around 3,500 people may lose their jobs as the grocer shifts its business and staffing plans to accommodate the way COVID-19 has shaped shopping.The group said in a statement that most of those roles at risk will be from the Argos chain it bought in 2016 as it looks to close 420 Argos standalone stores by March 2024, and then open 150 more outlets in Sainsbury's stores.Sainsbury's is Britain's second largest grocer with 16.2% of the market share, according to data by analytics agency Kantar Worldpanel, and has a total workforce of 172,000."We are talking to colleagues today where the changes we are announcing impact their roles," said Sainsbury's in a statement."We recruit 55,000 Retail colleagues every year and have already hired 52,000 people since March, including 29,000 additional colleagues to support our efforts to feed the nation.READ MORE: Bank of England to pump another £150bn into UK economy"We have many job opportunities for colleagues who work on our food counters or in our Argos standalone stores that are closing, but vacancies might not always be in the right location or at suitable hours for all colleagues."Whilst we will aim to find alternative roles for as many colleagues as possible, around 3,500 of our colleagues could lose their roles as a result of our proposals. Including these proposals, we expect to increase our colleague population by 6,000 roles by the end of the financial year."We have an excellent track record of finding alternative roles for colleagues - for example, where we have moved colleagues from Argos standalone stores to stores in Sainsbury's supermarkets, we have retained 90% of colleagues. We will do everything possible to find alternative roles for our colleagues."Simon Roberts, CEO of Sainsbury said that highlighted that "COVID-19 has accelerated a number of shifts in our industry" and that people shopping differently and moving online has led to around 40% of Sainsbury's sales being digital today. During the coronavirus pandemic this share has grown, as just 10% of sales were digital this time last year.... Yahoo Finance..

[philanderer] 05/11/2020 00:24

Market report ADVFN


Retailer Marks & Spencer rallied despite saying that it swung to a half-year loss as coronavirus lockdowns hit its clothing division. The company posted a pre-tax loss of £87.6m from a profit of £159m a year earlier.

Richard Hunter, head of markets at Interactive Investor, said: "While an historic loss cannot be ignored, Marks & Spencer is working at pace to transform its business and there are some signs of early success.

"The streamlining is likely to result in annualised cost savings of £115 million, the online channel is receiving particular attention to modernise the overall offering and the Food business has maintained its position as a positive contributor to the business."

[xxxxxy] 04/11/2020 21:47

Clarissa Flynn4 Nov 2020 6:36PMThey used to rely mainly on British manufacturers, but switched to cheaper foreign companies, mainly from the Far East. Unsurprisingly, quality has plunged and as for the sizing, well, it's a complete lottery! If it wasn't for the food, I wouldn't bother going in there ever again.6LikeReplyFrank Brennan4 Nov 2020 7:18PM@Clarissa Flynn And although M&S clothing is only a load of expensive, ill-fitting  tat, this is where they make the most money, whereas with their food, this is mostly from British suppliers & so their profit margins are a hell of a lot smaller compared with their clothing.... Daily Telegraph article...

[debsdowner] 04/11/2020 17:23

Latest coronavirus data last 24 hours today 4th November:

Positive tests 25,177

Patients in hospital 12,320

On ventilator 1,142

Admissions 1,421

Deaths 492

Comment:

Stats going up yet again and particularly positive tests and patients in hospital and I suspect will go higher yet for the next few weeks. Deaths are also climbing strongly.

Highest death rate since MAY

[debsdowner] 04/11/2020 15:52

CLARKS shoes been rescued but near 4,00 workers still at risk despite denials by company:

[debsdowner] 04/11/2020 15:49

Mike Ashley increase his stake in Mulberry to 29.7%, this looks one of his biggest stakes in a company for a long time.



If he wants to be one of the largest upmarket high street department stores he should be looking at trying to get hold of Austin Reed and Jaeger held by Edinburgh Wool Mill now in administration.

[sikhthetech] 04/11/2020 14:17

They seem to be doing the right things for the future. Food should be the main driver over the next few months.

[philanderer] 04/11/2020 13:26

'Marks & Spencer falls to first loss as Covid crisis hits clothing sales

Half-year loss of £87.6m comes as new coronavirus restrictions create more uncertainty

[zztop] 04/11/2020 13:22

Couple of tomatoes would be good

[careful] 04/11/2020 12:59

Post Covid MKS need tomato a mere £200m pre tax to justify todays share price.
Ocado going well.

Worth holding or adding.

[qantas] 04/11/2020 12:53

Retailer Marks & Spencer rallied despite saying that it swung to a half-year loss as coronavirus lockdowns hit its clothing division. The company posted a pre-tax loss of £87.6m from a profit of £159m a year earlier.

Richard Hunter, head of markets at Interactive Investor, said: "While an historic loss cannot be ignored, Marks & Spencer is working at pace to transform its business and there are some signs of early success.

"The streamlining is likely to result in annualised cost savings of £115 million, the online channel is receiving particular attention to modernise the overall offering and the Food business has maintained its position as a positive contributor to the business."

Please do your own research as always..

[debsdowner] 04/11/2020 12:49

robot,

Redundancies are mounting, quite a shock for John Lewis employees as 1,300 jobs had already been axed and many employees would have thought that was the end. I did however predict that their would be more job losses.

The employees only told today and they will be having a miserable Christmas.

Is it possible you can employ a few on your farms?

They will have to get used to outdoor work picking but it may keep them fitter in the end if you cab get their weight down.

Less money on minimum wage but het what its better than nothing!

MARKS & SPENCER INVESTORS excluded of course you don't want nat brained people working for your empire.

[debsdowner] 04/11/2020 12:38

Breaking news:

John Lewis announces more job losses with 1,500 culled and Patrick Lewis their finance director given the red card and he is leaving the partnership:

[johnwise] 04/11/2020 12:36

VIDEO

MSM FAIL 🤦‍♂;️ Polls Wrong, Lefty Daily Mail, BBC, Social Media Left Bias & Silencing / Editing Reality

[pwal] 04/11/2020 12:32

That should put the share price for Lloyds up then!

[debsdowner] 04/11/2020 12:27

Breaking news:

Lyoyds Bank to cut a further 730 jobs

[dvb99] 04/11/2020 11:58

@1224SSJ
"Loss of 84m, shares go up, casino"

I think that's better than expected. I was thinking M&S would post loss of over £100m.
Might trawl through these results, potential recovery stock in the medium term.
There's probably a lot of pent up demand with older folks, who have been stuck indoors, during COVID, and maybe dont use Internet etc.

[porsche1945] 04/11/2020 11:38

Terminal decline, everyone knows this is a damage limitation exercise and MKS will do well to survive in any form, ftse 350 just hopeless and the UK in general best days are long behind it, having a trashed currency doesn't help, led by idiots, brexit a self harming impoverishing disaster and that’s without covid wiping everything out except tech. Time to emigrate.

[debsdowner] 04/11/2020 11:25

Hargreaves Lansdowne:



Comment:

MARKS dealing with debt better than John Lewis, and food sales improving the business as a whole. But the question is can this be sustained in this competitive environment which will get more cut throat due to higher unemployment.

Its a difficult call with a second lockdown hence the company are cautious coming up to Christmas.