marksandspencer
Marks and Spencer Group Plc (LON:MKS)’s full year underlying sales rose 6.9% compared to pre-covid levels to £10.9bn. This reflected strong growth in UK Food as well as growth in UK Clothing & Home. Operating profit rose by £20m to £709.0m compared to 2020, as double-digit increases in UK Food and UK Clothing & Home offset weakness in International and MS Bank and Services. Q1 2022 hedge fund letters, conferences and more M&S expects that inflationary headwinds will negatively impact volumes and drive sales growth lower through the end of the year. So far this year trading has been ahead of co...
ValueWalk
Ocado Retail – the joint venture with Marks and Spencer Group Plc (LON:MKS) – has said 2021 is expected to be in line with guidance, as strong demand is offset by labour shortages and capacity constraints. Q3 2021 hedge fund letters, conferences and more Shopping habits are returning to pre-covid levels. Retail revenue in the fourth quarter of £547.8m was up 31.6% on 2019, but down 3.9% on last year. That reflects an 8.5% increase in average orders per week to 375,100, but a 12% fall in the average basket size, as people spent less time at home. Trends in the fourth quarter have been positive,...
ValueWalk
“As shoppers prepare for a black Friday spree, the bargain hunt for good value UK companies continues for private equity firms. Q3 2021 hedge fund letters, conferences and more Apollo Global Management's Bid For Marks And Spencer SharesThe rumour mills are now grinding around a possible bid by Apollo Global Management for Marks and Spencer Group Plc (LON:MKS), sending shares 3% higher in early trade. It’s unlikely to be lingerie sales which have made M&S an attractive prospect, instead its food aisles and in particular the tie-up with Ocado which will be the allure. Apollo has flirted with oth...
ValueWalk
“The customer trolley dash for treats at Marks and Spencer Group Plc (LON:MKS), which has prompted the retailer to raise its forecast for full year profit, shows just how lucrative the food arm of the business has become. Marks and Spencer may have been late to the grocery e-commerce party, but arriving with Ocado in arm, it’s muscled into a prime spot on the dance floor, and is enjoying the hits. It looks like this long suffering high street stalwart has turned a sharp corner, proof that management’s transformation strategy is paying off, and investors have cheered on the news with shares ris...
ValueWalk
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