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

RTTNews | 950 dni temu
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 | 362 dni temu
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 | 913 dni temu
DAX Down Marginally In Cautious Trade

DAX Down Marginally In Cautious Trade

German stocks are exhibiting weakness on Monday in cautious trade after recent gains. Investors are assessing possible risks to global economic growth due to geopolitical tensions and tariff uncertainty, as well as a downgrade in U.S. sovereign debt.
RTTNews | 15 minut temu
China Industrial Output Growth Tops Expectations; Retail Sales Disappoint

China Industrial Output Growth Tops Expectations; Retail Sales Disappoint

China's industrial production increased more than expected in April despite trade tariff hikes and the unemployment rate dropped marginally but growth in retail sales fell short of expectations signalling weaker domestic demand, official data revealed on Monday. Industrial output logged an annual growth of 6.1 percent in April after rising 7.7 percent in March.
RTTNews | 2g 36 minut temu
Thai Downgrades GDP Growth Outlook

Thai Downgrades GDP Growth Outlook

Thailand's economy is projected to expand less than the previous estimate this year as trade tariffs are likely to dampen exports in the second half of the year, the National Economic and Social Development Council said Monday. Southeast Asia's second largest economy is forecast to grow in the range of 1.3 percent to 2.3 percent this year. This was down from the previous outlook of 2.3 percent-
RTTNews | 4g 9 minut temu