Marks and Spencer Group PLC (MKS.L)
LONDON Marks & Spencer (M&S) soundly beat forecasts for Christmas trading with its first quarterly increase in clothing and homeware sales in nearly two years, delivering a welcome boost for new boss Steve Rowe.
* First market share gain for full-price clothing in seven years
LONDON (Reuters Breakingviews) - Full-priced fashion is the new black. Strong pre-Christmas sales at UK retailers Marks & Spencer and Debenhams show efforts to wean customers off promotions are paying off. Fewer discounts should translate into better margins. But the temptation to hoist the “sale” signs may return as inflation and weaker growth squeeze British consumers.
LONDON, Jan 12 Marks & Spencer soundly beat forecasts for Christmas trading as it reported its first quarterly rise in underlying clothing and homeware sales in nearly two years, delivering a boost to new boss Steve Rowe.
LONDON European shares edged down from a one-year high on Wednesday, with retailers in focus after standout faller Next cut its profit guidance and cautioned on future trade.
LONDON European shares steadied on Wednesday with retailers in focus after contrasting updates from Next and B&M European Value Retail.
SYDNEY Australia's top grocer Woolworths Ltd said on Wednesday it will sell its chain of petrol stations to BP plc for A$1.8 billion ($1.3 billion), the latest disposal in a bid to return the company's focus to its core supermarket business.
LONDON, Nov 8 Marks & Spencer chief Steve Rowe believes "Mrs M&S" can save Britain's biggest clothing chain as it retreats from the battle for younger shoppers who increasingly favour fast fashion trailblazers such as Zara.
LONDON Britain's Marks & Spencer plans to shut more than 80 stores at home and abroad at a cost of up to 550 million pounds ($684 million) as its new boss tries to revive the retailer by switching space towards food and away from fashion. | Video
* Retailer to close about 30 UK stores, switch 45 to food only