Marks & Spencer cautious on year ahead
Despite announcing a 4.6% rise in pre-tax profits to £632.5 million, UK retail giant Marks & Spencer is still concerned about the short to medium-term outlook for the UK economy. Like for like sales increased by 0.9% over the 52-week period in what is the last set of figures reported by Sir Stuart Rose, the outgoing chairman.
The company is now in the hands of Marc Bolland although he has taken a step back from the results issued today to concentrate on his induction period which began a couple of weeks ago. There are very high hopes for the incoming former Morrison's chief executive who comes with a very good track record and an incentive package which few other companies in the UK could match.
Insiders at Marks & Spencer believe that the new chief executive has plans to increase the company's overseas exposure, something which has always proved difficult in the past, and increase the breadth and the depth of products and services available in-store. There's also likely to be further impetus added to the company's online presence with the company finally being dragged into the new online arena. Whatever happens over the next few years we are likely to see a very different Marks & Spencer to the one we see today.
Share this..
Related stories
Who will be next to fall to a fallen prey?
Now that the Cadbury saga has ended, investors are looking around to see which sectors and which companies could well come under attack from foreign predators. The fact that sterling is so weak in the currency exchange markets has given foreign investors more firepower which could prompt a whole host of offers and aggressive bids for UK household names. While many believe that the UK banking se...
Read MoreWhen will Prudential get a break?
Over the last 24 hours there have been some interesting developments in the proposed takeover of AIG's Asian operations by UK outfit Prudential. However, after a relatively upbeat statement this morning suggesting that then companies were renegotiating on price it was being revealed that one of Prudential's largest shareholders, F&C Asset Management, will be voting against the acquisition. Whil...
Read MoreUK building society funding arrangements set to change
The Financial Services Authority (FSA) is this weekend in talks with a number of building societies in the UK amid rumours of a significant change in funding arrangements. Just a few months ago, after pressure from the sector, the UK government increased the options open to UK building societies with regards to funding. However, in light of the significant downgrade by debt rating agency Moody's,...
Read MoreGlossary Of Investment Terms (C)
The following are useful investment terms beginning with ‘C’ Call Option A call option is an option which gives the holder the right (but not the obligation) to purchase an asset at a predetermined date (maturity date) for a predetermined price (exercise price). See also Put Option. Cancellation Period The period after signing a contract during whic...
Read MoreIs Barclays bank reconsidering bonuses payments?
Barclays bank is this week set to discuss the level of bonuses allocated to more senior and more junior members of the company. This comes at a time when the UK government is adamant that banking bonuses should be reeled in as the worldwide economy and the UK economy continues to stutter. This is the first sign of cracks in the UK banking community which up until now has been firmly against govern...
Read More