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Marks and Spencer Group PLC (MKS.L)

MKS.L on London Stock Exchange

311.30GBp
13 Dec 2017
Change (% chg)

-0.60 (-0.19%)
Prev Close
311.90
Open
310.60
Day's High
315.30
Day's Low
310.40
Volume
7,328,672
Avg. Vol
8,896,113
52-wk High
397.80
52-wk Low
296.30

Latest Key Developments (Source: Significant Developments)

M&S says previously announced UK store closure plan now the minimum
Wednesday, 8 Nov 2017 

Nov 8 (Reuters) - Marks & Spencer :CEO says "we're quite pleased with the start to Christmas" trading.CEO says decision to slow food stores opening programme "nothing to do with brexit".CEO says relationship with new chairman Archie Norman going well.CFO Helen Weir says leaving company to pursue "more diverse portfolio" of jobs.CEO says move to speed up change due to data, modelling, not Archie Norman joining business.CEO says previously announced UK store closure plans now the minimum.  Full Article

Marks & Spencer‎'s clothing chief Jo Jenkins resigns - Sky News
Wednesday, 25 Oct 2017 

Oct 25 (Reuters) - :Marks & Spencer‎'s clothing chief Jo Jenkins has resigned‍​- Sky News, citing sources.  Full Article

Marks And Spencer to cut about 525 jobs at UK head office
Monday, 5 Sep 2016 

Marks And Spencer Group Plc : Proposed changes to UK head office structure . It will be entering in to consultation with its employees with regards to proposals to make significant changes to its UK head office structure . Proposals have been developed by M&S following a detailed review of organisation and an analysis of its processes and do not impact on M&S store employees . Proposals are centred on plans to reshape and redefine organisation by reducing number of head office roles by a net reduction of c.525 roles . It is expected that annualised operating cost savings would be c.1 pct of UK cost base . Should proposals go ahead they would deliver significant cost savings . There would be a non-underlying cost of c.15 mln stg which includes changes to senior management team that have already taken place . Cost growth guidance for current year remains unchanged at c.3.5 pct .Also reduce number of roles permanently based in Central London by c.400, across it and logistics.  Full Article

M&S CEO says Q1 clothing sales fall "what I expected to see"
Thursday, 7 Jul 2016 

Marks & Spencer : CEO says Q1 clothing numbers "what I expected to see" . CFO says firm about 90 percent hedged for current year . CEO says about 5 percent of Q1 clothing like-for-like sales fall due to timing changes of sale, less promotions . CEO says "very encouraged" by volume increases in clothing lines where prices cut . Shares up 1.6 percent as firm maintains FY guidance despite worse than expected Q1 clothing sales fall Further company coverage: (London Newsroom) ((UK.online@Reuters.com; +44 (0)20 7542 7717;)).  Full Article

M&S CEO says won't put timeframe on recovery of clothing business
Wednesday, 25 May 2016 

Marks & Spencer : CEO Steve Rowe says expects analysts' consensus profit forecasts for current, next year to come down . CEO says won't put timeframe on recovery of clothing and home business . Says review of costs to focus on "simplifying processes" . CEO says UK clothing market "very difficult at the moment" Further company coverage: (London Newsroom) ((UK.online@Reuters.com; +44 (0)20 7542 7717;)).  Full Article

Weakest week in two months for FTSE as retailers, earnings weigh

* Small-caps vulnerable as earnings downgrades multiply (ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon, see cpurl://apps.cp./cms/?pageId=livemarkets)