Marks & Spencer slashes dividends and vows to be 'never the same again'
4 years, 8 months ago

Marks & Spencer slashes dividends and vows to be 'never the same again'

The Telegraph  

Marks & Spencer vowed to make a radical break with the past under the slogan "never the same again" as it axed its dividend for next year and shored up its coffers in response to the coronavirus outbreak. Meanwhile, upmarket rival Waitrose is poised to appoint a former Sainsbury's executive, James Bailey, to run its operations, Sky News first reported. M&S's "never the same again" plans are likely to spark fears of more store closures and job losses as part of the battle to get back on track. A recovery in M&S's food arm also came to a crashing halt when the lockdown was imposed, with its cafes shut and city centre stores hit hard as consumers are forced to stay at home. The company's deal to sell groceries online with Ocado is "on track" for launch in September despite disruptions to supply chains at home and abroad.

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History of this topic

Marks & Spencer winning streak continues as profits soar
2 months ago

Marks & Spencer winning streak continues as profits soar

Daily Mail  

Marks & Spencer profits soared 17.2 per cent in the first half, with the retailer continuing to beat expectations thanks to market share gains. Revenue climbed 5.7 per cent to £6.48billion, with food sales up 8.1 per cent and clothing and homeware sales up 4.7 per cent, with notable growth across womenswear. Boost: Marks & Spencer enjoyed higher sales across …

Marks & Spencer sees profits surge, but cautions over consumer pressures
2 months ago

Marks & Spencer sees profits surge, but cautions over consumer pressures

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Marks & Spencer has notched …

Could this be the man to turn around John Lewis' fortunes? Former Tesco boss who failed his maths GCSE before joining supermarket as a grad student and working his way up to chief executive takes over
9 months ago

Could this be the man to turn around John Lewis' fortunes? Former Tesco boss who failed his maths GCSE before joining supermarket as a grad student and working his way up to chief executive takes over

Daily Mail  

As a teenager not much might have been expected of Jason Mark Tarry, who failed his maths GCSE and came from a family where no one had ever been to university. Mr Tarry, 56, joined Tesco in 1990 and held roles at Britain's biggest supermarket such as bakery category director, chief product officer and clothing chief executive. Jason Tarry is …

Marks & Spencer staff will get £10,000 payouts after retailer announced 'best ever Christmas' and is poised to overtake Waitrose as Britain's middle-class shop of choice
11 months, 3 weeks ago

Marks & Spencer staff will get £10,000 payouts after retailer announced 'best ever Christmas' and is poised to overtake Waitrose as Britain's middle-class shop of choice

Daily Mail  

Marks & Spencer staff are set to get £10,000 payouts after the retailer announced its 'best ever Christmas', which puts the retailer in position to become the shop of choice for middle-class Britain. Sales of food at M&S were up 12.1 per cent in the crucial 12 weeks ahead of Christmas while the figure for Waitrose rose 3.6 per cent. …

Interview: Marks & Spencer chief executive Stuart Machin
1 year, 7 months ago

Interview: Marks & Spencer chief executive Stuart Machin

Daily Mail  

There are many serious business questions to ask Stuart Machin, the chief executive of Marks & Spencer. Road to recovery: Stuart Machin took over at Marks & Spencer last year More importantly, millions of ordinary customers are buying more. Machin says: 'She is really focused on the customer, on service, on the new platform, web dev- elopment and how that …

Marks & Spencer will overtake John Lewis by 2026, according to sales forecast
1 year, 11 months ago

Marks & Spencer will overtake John Lewis by 2026, according to sales forecast

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Marks & Spencer will overtake …

Marks & Spencer warns of tougher trading ahead as half-year profits dive
2 years, 1 month ago

Marks & Spencer warns of tougher trading ahead as half-year profits dive

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy High street giant Marks & …

Marks & Spencer raises profits outlook but warns over soaring supply costs
3 years, 1 month ago

Marks & Spencer raises profits outlook but warns over soaring supply costs

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Chief executive Steve Rowe thanked a boost from pent-up …

Marks & Spencer to announce transformation progress amid supply pressures
3 years, 2 months ago

Marks & Spencer to announce transformation progress amid supply pressures

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. It is expected to show profits above pre-pandemic levels …

M&S suffers £200MILLION losses lockdown sales plunge
3 years, 7 months ago

M&S suffers £200MILLION losses lockdown sales plunge

Daily Mail  

Marks & Spencer will shut dozens of stores after suffering a £201million loss for the past year as it revealed the scale of the financial hit caused by successive lockdowns with clothing and home sales falling by a third. It reported that food like-for-like revenues increased by 1.3 per cent over the past year but the company saw its clothing …

Marks & Spencer to cut 7,000 jobs as clothing sales collapse
4 years, 4 months ago

Marks & Spencer to cut 7,000 jobs as clothing sales collapse

CNN  

London CNN Business — Marks & Spencer will axe 7,000 jobs over the next three months, delivering another blow to the struggling UK economy as the pandemic changes the way people work and shop. The venerable UK retail chain, which sells clothes, food and household goods, said in a statement Tuesday that cuts to its 78,000-strong workforce will be made …

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