Marks & Spencer To Close 67 Stores While Opening 104 Food Stores Over Next 5 Years

RTTNews | 961 days ago
Marks & Spencer To Close 67 Stores While Opening 104 Food Stores Over Next 5 Years

(RTTNews) - Marks & Spencer Group Plc (MAKSY.PK, MAKSF.PK, MKS.L) said Wednesday it will invest 200 million British pounds across the C&H and Food divisions over the next few years while reshaping for growth and value creation, according to an investor presentation made by Chief Executive Stuart Machin and Co-Chief Executive Katie Bickerstaffe.

The company is also looking to build towards about 400 million pounds in underlying cost savings from overheads.

The retailer will close 67 lower productivity full line stores, while opening 104 more high productivity, high quality Food space over the next five years, but aiming for three years.

The company is also looking to more than double international operating profit by fiscal 2028, with India revenue CAGR target of 20% and strengthening markets in Indonesia, Middle East and Asia.

read more
M&S Stock Up On Higher FY24 Results, Dividend, Outlook

M&S Stock Up On Higher FY24 Results, Dividend, Outlook

Shares of Marks and Spencer Group Plc or M&S were gaining more than 7 percent in the morning trading in London after the retail major reported Wednesday significantly higher profit and sales in its fiscal 2024. The company also announced a dividend, and said it is confident to make further progress in 2025 and beyond.
RTTNews | 373 days ago
Marks And Spencer Appoints Jeremy Townsend As Interim CFO

Marks And Spencer Appoints Jeremy Townsend As Interim CFO

Marks and Spencer Group Plc (MAKSY.PK, MAKSF.PK, MKS.L) announced Friday that Jeremy Townsend is joining the business as Interim Chief Financial Officer. Jeremy joins on Monday, on November 22, and will report to Chief Executive Officer Stuart Machin.
RTTNews | 924 days ago
Wall Street Likely To Open On Negative Note

Wall Street Likely To Open On Negative Note

Lower U.S. futures and uncertainty surrounding Trump administration's tariff moves point to a flat start for stocks on Wall Street on Friday. Investors will also be digesting some crucial economic data, including reports on U.S. consumer confidence, Chicago PMI reading, and personal income & spending reports.
RTTNews | 45 minutes ago
Bay Street Likely To Open On Mixed Note

Bay Street Likely To Open On Mixed Note

Canadian shares are likely to open on a mixed note Friday morning with investors reacting to a slew of economic data, and assessing the likely move of Trump administration with regard to tariffs.
RTTNews | 1h 8min ago
FTSE 100 Rises 0.7%

FTSE 100 Rises 0.7%

UK stocks are up in positive territory a little past noon on Friday, remaining firm after a steady start. Despite concerns about inflation and uncertainty about tariffs, investors are picking up stocks amid cautious optimism about growth.
RTTNews | 2h 4min ago
CAC 40 Modestly Higher In Cautious Trade

CAC 40 Modestly Higher In Cautious Trade

After a slightly weak start, the French market has moved higher on Friday with investors picking up stocks amid hopes the European Central Bank will lower interest rates at its ensuing meeting. The U.S. federal court's ruling against President Donald Trump's sweeping tariff moves on its trading partners had added to uncertainty on the trade front, rendering the mood a bit cautious.
RTTNews | 2h 34min ago
DAX Up 0.8% On Selective Buying As Markets Await Clarity On Tariffs

DAX Up 0.8% On Selective Buying As Markets Await Clarity On Tariffs

German stocks are gaining notably ground in positive territory on Friday despite data showing a drop in the nation's retail sales in the month of April, and amid uncertainty about Trump administration's tariff moves after U.S. court rulings against the levies proposed by the U.S. President.
RTTNews | 3h 4min ago