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Marks and Spencer Group PLC (MKS)

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Dod101
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Re: Marks and Spencer Group PLC (MKS)

#276351

Postby Dod101 » January 10th, 2020, 9:45 am

I agree about the prices. I would never pay those prices but if you look carefully they have great value sales. I bought three of their heavy winter cashmere sweaters in a sale some years ago and they are just beginning to wear out now. In fact one has lost its shape and will need to go; the other two are still fine and that must be about ten years ago. They would have cost around £100/150 each. I know that is expensive but they are wonderful to wear and have retained their shape, have not 'balled' and so on. I have got through several lighter cashmere sweaters from other manufacturers (usually own brand from high street stores) and they wear through at the elbows very quickly and lose their shape. As my late wife used to say 'You could shoot peas through them' because they are so loosely woven. False economy I'd say.

Dod

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Re: Marks and Spencer Group PLC (MKS)

#276357

Postby dspp » January 10th, 2020, 10:10 am

Moderator Message:
per an alert from a concerned fellow Fool.

Not merely this post but would there be any chance of reminding contributors the title of the board: Company Share news

The majority of recent and not so recent posts seem to be about underpants, vests, socks etc. This occurs every time there's an rns.


otherwise we are going to have to open a board marked Grumpy Old Fools, or is that Bitter Lemons ? Anyway I am sure you all get the point.

regards, dspp

Dod101
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Re: Marks and Spencer Group PLC (MKS)

#276364

Postby Dod101 » January 10th, 2020, 10:19 am

I agree dspp and I have made a few irrelevant posts. Sorry. Can I just say that the cashmere company I was referring to is actually Johnstons of Elgin, the Scottish spelling of the surname.

Will say no more.

Dod

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Re: Marks and Spencer Group PLC (MKS)

#276417

Postby dealtn » January 10th, 2020, 1:46 pm

So since the trading update, and the over 10% fall in price, we have had 5 broker updates.

These are from Liberum, Peel Hunt, Barclays, Berenberg, and Goldman Sachs. No need to read but the ratings are "Sell", "Hold", "Overweight", "Buy" and "Buy", respectively, with price targets of 250p, 245p and 215p from the last 3 (I can't find specific price targets for the first 2).

With the current price around 190p, down about 30p from the trading update, it just adds to the mystery of what was so disappointing in the rns.

At least the potential add would be at a better entry price.

PrefInvestor
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Re: Marks and Spencer Group PLC (MKS)

#276616

Postby PrefInvestor » January 11th, 2020, 8:01 am

Hi All, Well MKS trading statement was really not good especially for the Xmas period, so the share price move came as no great surprise to me. Even food didn’t do that well and clothing was down yet again. No surprise there for regular visitors to their stores of which I am one. My wife always wants to go and look around, but the poor experience that I’ve previously reported continues. She rarely finds anything she likes and if she does they almost certainly don’t have her size, so no sale. The food side is good but expensive, but you expect that. Ocado reported good results in December so maybe that will start to feed through into MKS performance in 2020.

The MKS share price got a big boost as a result of the election result, I confess I didn’t understand why at the time – anyway it has lost all those gains now. Overall UK retail continues to be a bit of a disaster with nothing much doing well, and in my home town more shops seem to be closing all the time. The move to online seems more pronounced than ever. Trading updates from Morrison’s and Kingfisher were poor IMV, Tesco’s and Sainsbury’s trading statements were better but still not great. Overall retail remains a poor performing sector to be avoided ATM IMV. I am sure that Brexit has and will continue to take its toll for some while yet.

ATB

Pref

PS Have resisted the temptation to talk about socks and underpants this time…..

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Re: Marks and Spencer Group PLC (MKS)

#283770

Postby dealtn » February 12th, 2020, 11:52 am

The changes at Board level continue.

On 5th February Katie Bickerstaffe announced joining the executive team, from being a non-executive Director, becoming Chief Strategy and Transformation Director.

Today it is announced that Eoin Tonge is appointed as CFO, previously at Greencore.

Evidence of finally getting some traction for change at the highest level in this company, or will it be a case of more deckchair arranging on the Titanic?

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Re: Marks and Spencer Group PLC (MKS)

#284048

Postby seagles » February 13th, 2020, 4:51 pm

Loss of vouchers. Just got this from my dealer:-

Paper based vouchers will no longer be issued by the Company as part of the Groups Digital Transformation Plan.

Important Information & Other Key Dates:

Marks & Spencer (M&S) has announced that as part of the Company's Digital Transformation Plan, M&S will no longer issue paper based vouchers as part of the Company's January Dividend mailing.

The Company's digital transformation plan does not effect a shareholders nominee holding of Ordinary M&S shares held with us.

The only discount now available to shareholders is via the online Shareview platform managed by Equiniti.

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Re: Marks and Spencer Group PLC (MKS)

#291705

Postby dealtn » March 17th, 2020, 5:04 pm

Back in Feb 19, MKS effectively took a 50% stake in Ocado's UK Retail business.

In the last month OCDO shares are up by about 10%. MKS are down nearly 50%.

Is the UK retail business such a small part of OCDO that it is the remaining parts that have driven its share price higher, or is the 50% share such a small part of MKS that the remainder dwarf it, and are responsible for the fall?

MKS is part food seller part clothes seller. It's shares are down 50%, whilst "rivals" such as TSCO and SBRY (in the food sector) are down less than 10%, and NXT (in clothing) are down 40%

Any views?

idpickering
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Re: Marks and Spencer Group PLC (MKS)

#292553

Postby idpickering » March 20th, 2020, 7:11 am

Update on trading and impact of COVID-19

https://www.investegate.co.uk/marks---3 ... 00069701G/

Finals dividend cancelled.

Also on HYP Practical for HYPer chat.

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Re: Marks and Spencer Group PLC (MKS)

#292616

Postby dealtn » March 20th, 2020, 10:10 am

Decent enough statement, but doesn't say enough about the 50% Ocado Joint Venture to me. Ocado closing website and restricting delivery options due to surge in demand. Would be hopeful this demand surge would be benefitting MKS too, but maybe less so until it is actually MKS product that is being delivered.

Still cash flow positive projected, and the 2nd biggest online clothes seller. Physical clothing stores are becoming less relevant, and at least the cancellation of business rates helps this year.

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Re: Marks and Spencer Group PLC (MKS)

#303752

Postby idpickering » April 28th, 2020, 7:34 am

MARKS & SPENCER ANNOUNCES STRENGTHENED LIQUIDITY FOR COVID CRISIS

Marks & Spencer has now completed steps to secure liquidity for the likely duration of the COVID crisis and to underpin the recovery strategy and accelerated transformation in 2021.

We are planning for the Clothing & Home business to be severely constrained during lockdown and highly uncertain trading conditions in a prolonged exit period. In the absence of a clear basis for forecasting, our scenario planning and stress tests are based on materially subdued trading for the balance of 2020 in Clothing & Home. M&S benefits from having a strong food business and the transition to Ocado supply is on track to proceed in September to form a multi-channel food operation. However, Food trading has been adversely affected by lockdown due to the closure of cafes and slowdown in travel and some city centre locations.

We have therefore taken steps to maximise liquidity for the likely duration of the crisis and recovery period beyond.


https://www.investegate.co.uk/marks---3 ... 00070439L/

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Re: Marks and Spencer Group PLC (MKS)

#303793

Postby dealtn » April 28th, 2020, 10:45 am

idpickering wrote:MARKS & SPENCER ANNOUNCES STRENGTHENED LIQUIDITY FOR COVID CRISIS

Marks & Spencer has now completed steps to secure liquidity for the likely duration of the COVID crisis and to underpin the recovery strategy and accelerated transformation in 2021.

We are planning for the Clothing & Home business to be severely constrained during lockdown and highly uncertain trading conditions in a prolonged exit period. In the absence of a clear basis for forecasting, our scenario planning and stress tests are based on materially subdued trading for the balance of 2020 in Clothing & Home. M&S benefits from having a strong food business and the transition to Ocado supply is on track to proceed in September to form a multi-channel food operation. However, Food trading has been adversely affected by lockdown due to the closure of cafes and slowdown in travel and some city centre locations.

We have therefore taken steps to maximise liquidity for the likely duration of the crisis and recovery period beyond.


https://www.investegate.co.uk/marks---3 ... 00070439L/


For those to whom it matters, the announcement goes on to say no dividend anticipated for the 2020/21 period. Next dividend likely to be the interim in Jan 2022 in that case.

idpickering
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Re: Marks and Spencer Group PLC (MKS)

#310132

Postby idpickering » May 20th, 2020, 7:22 am

Finals here; https://corporate.marksandspencer.com/d ... -final.pdf

Also on HYP Practical Board for HYPer chat.

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Re: Marks and Spencer Group PLC (MKS)

#334008

Postby idpickering » August 18th, 2020, 7:05 am

M&S Trading Update and Streamlining Announcement

Here;

https://www.investegate.co.uk/marks---3 ... 00043818W/

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Re: Marks and Spencer Group PLC (MKS)

#340374

Postby dealtn » September 15th, 2020, 10:40 am

Important read through from the Ocado (OCDO) RNS this morning

See viewtopic.php?f=94&t=25261 and https://www.investegate.co.uk/ocado-gro ... 00049634Y/

With MKS owning 50% of the Ocado Retail business that's significant. The market likes the Trading Update with OCDO approaching all time highs, but of importance is some of the information specific to MKS contained within. Importantly the update only covers the period up to End of August, with the M&S / Waitrose switchover only occurring from 1st September. (Orders opened on August 1st, but deliveries start 1st September).

However within the RNS you get confirmation of how successful this transition is, despite it being very early days.

"The initial range of 4,400 food products replaces c4,000 Waitrose products providing high quality alternatives at the same or better prices, M&S favourites, and hundreds of completely new products which reflect trends that Ocado.com customers are most excited about such as M&S Plant Kitchen, Organic, Remarksable and Made Without ranges."

"In addition, Ocado.com now features around 700 M&S Home & Lifestyle product lines, further enriching the hypermarket offer for customers with quality M&S products in categories such as toiletries, baby, kitchen, dining and household."

"Excitement around the launch of M&S products has increased the average basket by around 5 items and is driving strong forward demand including our biggest ever forward order day, on the day of launch. 98% of customers are already shopping M&S."

etc.

MKS up about 4% on the day. I would think that at least some of the uncertainty surrounding the deal is being removed, or at least the risk of it being a failure at least.

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Re: Marks and Spencer Group PLC (MKS)

#340384

Postby Bouleversee » September 15th, 2020, 11:06 am

I was thinking of throwing in the towel as regards my M&S shares which I have held for very many years and are showing a huge loss but perhaps there is life in the old dog yet. I'll hang on for a while and see what happens. Perhaps they could get someone with taste to do something about the clothes as well.

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Re: Marks and Spencer Group PLC (MKS)

#352922

Postby dealtn » November 3rd, 2020, 10:50 am

Latest Trading Update from Ocado (OCDO) is positive and reflected in near 9% increase in share price.

https://www.investegate.co.uk/ocado-gro ... 00108550D/

MKS share price not seeming to benefit in any meaningful way. MKS releases its own Trading Update tomorrow.

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Re: Marks and Spencer Group PLC (MKS)

#353276

Postby idpickering » November 4th, 2020, 7:09 am


dealtn
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Re: Marks and Spencer Group PLC (MKS)

#355540

Postby dealtn » November 11th, 2020, 2:14 pm

It's taken a while for me to catch up with these. I think the link below will take you to the associated webinar on the results from the top team at MKS. Pretty impressive. Obviously the "Covid Bounce" has been responsible for much of the share price recovery since the 4th November release date. However there is plenty of interest, and to like, in what was said here. Happy to be long this one and a price north of 200p isn't an unrealistic target to have personally.

Some way off but a move back to FTSE100 status might generate its own momentum.

https://webcasting.brrmedia.co.uk/broad ... 6f2b93d989

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Re: Marks and Spencer Group PLC (MKS)

#374612

Postby idpickering » January 8th, 2021, 7:20 am

3rd Quarter Trading Statement

Steve Rowe, Chief Executive said:

"Given the on-off restrictions and distortions in demand patterns our trading was robust over the Christmas period. More importantly beneath the Covid clouds we saw a very strong performance from the Food business including Ocado Retail and a further acceleration of Clothing & Home online. I want to thank all my colleagues for a first-class execution of Christmas for our customers in near impossible conditions.

Near term trading remains very challenging but we are continuing to accelerate change under our Never the Same Again programme to ensure the business emerges from the pandemic in very different shape."

● Food LFL sales increased 2.6%, with LFL ex-hospitality up 5.7%. On a comparative basis this performance was even stronger given reduced food-on-the-move sales and lower footfall in town and city centres. During the four-week lead up to Christmas, customers responded to our innovative seasonal product, and LFL sales ex-hospitality and franchise grew by 8.7% with large retail park and Simply Food stores significantly outperforming. Operating changes including the Vangarde supply chain programme and investment in store technology resulted in stronger service and reduced waste. On top of this Ocado Retail further sustained its recent positive performance with the participation of M&S products remaining strong.

● In Clothing & Home good progress in repositioning ranges and shape of buy was concealed by the continuing restrictions and demand distortions: revenue decreased 25.1% reflecting an in-store sales decline of 46.5%, partly offset by strong online sales growth of 47.5%. The sales mix remained heavily biased to Covid influenced product such as sleepwear and leisurewear. As we shift to trusted value many blanket promotions were removed, and the ratio of full price sales improved with full price sales declining a more modest 4.8% and online orders more than doubling. As a result, the stock position as we entered the latest lockdown was strong. The online business, now under the MS2 umbrella, performed well with fulfilment from both Castle Donington and BOSS (our ship from store system) helping to increase volume and release the pressure on store stock.

● International revenue decreased 10.4% impacted by changing restrictions across the globe. Targeted actions helped to support the doubling of online sales and in our owned markets trading trends improved. Near-term franchise performance continues to be impacted by the changes in partner stock requirements as a result of the pandemic.

● In the period we issued a £300m bond maturing in 2026 and repurchased £136m of bonds expiring in December 2021, further strengthening the group's debt and liquidity profile.

● The free trade agreement with the EU means we will not incur tariffs on our core UK sales. However potential tariffs on part of our range exported to the EU, together with very complex administrative processes, will significantly impact our businesses in Ireland, the Czech Republic and our franchise business in France which we are actively working to mitigate.

· The announcement of an effective UK wide lockdown, potentially enduring until Easter will impact store sales and we are continuing to actively manage our Clothing & Home stock and our store cost base accordingly.

We will report full year results for the 53 weeks ended 3 April 2021 on 26 May 2021. The inclusion of a 53rd week of trading is not expected to make a material contribution to group performance. Results will be presented on a comparable 52 week basis.


https://www.investegate.co.uk/marks---3 ... 00029990K/


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