Marks And Spencer Share Discussion Threads

[freedom97] 27/5/2016 11:09

From Final Results:
Robert Swannell, M&S Chairman, said:

"Steve Rowe is today setting out his priorities as our new Chief Executive. His number one priority is to restore our Clothing & Home business to profitable growth, while maintaining the pace of growth and success of our market leading Food business.

"Today we announce a proposed final dividend for 2015/16 of 11.9p resulting in a full year dividend of 18.7p, up 3.9% on last year and broadly in line with underlying profit growth. As part of our ongoing programme of enhanced returns, we are also announcing a special dividend of 4.6p per share (c.GBP75 million) for the first half of the 2016/17 year. This will be paid to shareholders in July at the same time as the final dividend. We will update on further capital returns at our Interim results in November."

[scottishfield] 27/5/2016 11:08

In the final results rns of 25/05.

"Today we announce a proposed final dividend for 2015/16 of 11.9p resulting in a full year dividend of 18.7p, up 3.9% on last year and broadly in line with underlying profit growth. As part of our ongoing programme of enhanced returns, we are also announcing a special dividend of 4.6p per share (c.GBP75 million) for the first half of the 2016/17 year. This will be paid to shareholders in July at the same time as the final dividend. We will update on further capital returns at our Interim results in November."

[84stewart] 27/5/2016 10:59

freedom 97
where is the reference to special divi as i have only just bought in again after a long time out

[essentialinvestor] 27/5/2016 10:04

Eisler, that aspect would not concern me too much.

The last two CEO's talked an incredibly good game, highly articulate
convincing, believable.. and the result was ?

[eisler] 27/5/2016 09:56

No terribly impressed with the interviews given by CEO this week - didn't fill me with confidence that there is the vision and strategy to turn this around

[essentialinvestor] 27/5/2016 09:52

Usually DYOR is best, and speaking of which for many people its more
than possible to do a little rudimentary research on the MKS non food side.

Walk in to a local NXT or Zara store, you don't need to be a devoted
follower of fashion to observe the lay out, atmosphere, quality of staff etc,
then visit a Marks store.
If you are unable to do that have a look at the online offerings.

[19bells] 27/5/2016 08:47

Freedom - an exciting divi but also likely the share price will drop 16p or 4% ishSo for me it's all about the day after divi day

[freedom97] 27/5/2016 08:21

Hi philanderer, I remember you from when you used to post on the JLP thread many years ago. I'm still invested there, as the company has finally turned a corner and should start to show a profit, the future looks very good now.

The last time I held MKS shares was in 2009. Well, thought the current share price undervalues the company (providing property prices don't drop). So I just bought £5K worth, as next Wednesday is the last day to buy to qualify for the 11.9p Divi & the 4.6p Special Divi as goes EX Divi on Thursday. One of my fixed rate bonds just matured and I can't even get 3% on new fixed rate bonds now, so imo much better to invest here. Plus I think Steve Rowe will turn this company around. The new directors should also help bring a positive change quickly too imo.

From past experience I've found it's better to do the opposite to what broker targets suggest.

[84stewart] 27/5/2016 08:03

The last ceo was ex Morrisons and look what happened to them,took a long time for them to recover,I would stick with Rowe give him his chance

[flaton2000] 27/5/2016 08:01

Are clothing sales actually so difficult to improve, i wouldn't have thought so, you can (more or less) see what your customers are wearing when they are in store,so more of the same i would suggest.... and ask them!I have always though the mens shoe section was "very poor" at best
Its not like the results were that bad, a good all round tweaking would have more effect on bottom line than to much focus on Mrs Average...search me, time will tell!

[philanderer] 26/5/2016 22:38

EI, good point re the PPI provision made in the accounts , gawd knows what that figure may end at eventually ?

[essentialinvestor] 26/5/2016 21:58

If this was 10 years ago may be, now unlikely.

The PPI provision appeared to come out of the blue, has there been any
comment on whether this is a one time event?.

Registered for the webcast, will review it tomorrow, although not sure I can sit
through the entire 2hrs worth.

Steve is a little different from the two previous CEO's, that may be no
bad thing.

[gswredland] 26/5/2016 21:49

Dividend is supporting it I think

[miikke] 26/5/2016 21:17

If the fall continues, this could become vulnerable to takeover speculation

[philanderer] 26/5/2016 18:48

Just can't see where any positive news will come from until this promised statement re the property portfolio in the autumn.

Surprised by this current support at 390p ..not to be sniffed at after the last couple of days 😜

[scottishfield] 26/5/2016 17:18

Tks phil, holding here too

[leadersoffice] 26/5/2016 15:55

£3.50? Now steady on chaps.., I think this is fair price now. Onwards and upwards although Rowe is the last throw of the dice to stop the rot and turn round clothes ware. If he fails it will be drastic measures that will need to be taken. I think he may bear fruit but he needs time. That's why we've been given a sweetner. Good luck

[essentialinvestor] 26/5/2016 15:51

Was going to post that 3.50 looks too low to me, then thought back to
12 months ago when if you mentioned MKS would trade sub £4 very very few
would have seen this current price.

[rubberbullets] 26/5/2016 15:45

FY16 results

reported underlying PBT was £684.1m (+3.5%) versus INVe £675m
and consensus of £673m, EPS 35p (+5.7%) and DPS 18.7p (+3.9%).

UK growth offset by weak international performance
.Group EBIT was up 2% to £778m. UK EBIT £722m (+7.7 %) v
ersus INVe £707m with International EBIT £55.8m (-40%) vs INVe £60m.

Strong cash generation
.Year end net debt
fell to £2.14bn
from £2.22bn the year before after capex of £525.1m,
an
ordinary dividend of
£302m and a share buyback p
rogramme of £150m

[diku] 26/5/2016 15:34

philanderer...I think I will join at 350p....

[philanderer] 26/5/2016 15:22

I'd add a few more at 350p. 🤓

[philanderer] 26/5/2016 15:21

Wouldn't think Green will touch this mess especially when he's got the current BHS headlines.

Split the damn thing in two, and cut the clothing floor space by 50% , not cut the prices and employ more staff

Few more experts..

Goldman Sachs. Sell. tp 350p from 380p

Numis. Hold. tp 390p

HSBC. Buy. tp 610p. from 680p

[eisler] 26/5/2016 13:09

Give shareholders a 20% discount card, I say!!!