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SharePrice.com - UK Share Information - Wednesday, 23rd January 2019

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M&S Embarks on Another Recovery Plan


Monday, 7th January 2019

Bolland’s departure saw his replacement, Steve Rowe, introduce a new recovery plan, which was then revised by Archie Norman to become another ‘new plan’. That plan appears to not be working out, as the company is struggling in a challenging environment where consumers are reluctant to spend, business rates are rising, high street rents are rising, and retailers are falling left and right.

Next, Marks & Spencer’s younger and more fashionable rival, has seen sales fall by 9.2 percent, and endured a very difficult Christmas period. Next was able to cling to life thanks to a boost for its online division, but M&S has never been a strong contender when it comes to innovations. The company has seen a wave of store closures, and is pushing its Simply Food stores, as well as revamping its clothing lines in a bid to lure back younger shoppers.

M&S is a high street icon in the UK, and there are many who want to see it survive. The company’s chairman, Archie Norman, is a former Asda executive, and he is joined by several other Asda alumni on the board, including Justin King who was formerly the boss of Sainsbury’s. There is speculation that if Rowe were to depart, King would become interim boss. Given Sainsbury’s successes in differentiating itself from the other major supermarkets in recent years, that could be a smart move. The question is whether any changes will be quick enough for a recovery plan.


Read previous editors articles here


Stock Market Update

Tuesday, 22nd January 2019

Concerns about the slowdown in China spreading hit oil prices with Brent crude oil slumping 2.8% to $61 per barrel, which also put oil majors and miners under pressure.  Royal Dutch ...
Tuesday, 22nd January 2019

Strong wage data and continuing hopes a no-deal Brexit will be averted helped lift sterling and contributed to losses for the FTSE 100 which was down 0.6% to 6,931.75 by ...
Tuesday, 22nd January 2019

UK stocks opened lower on Tuesday as slowing growth in China and fears of a no-deal Brexit stoked concerns about the strength of the global economy.  At 0852, the benchmark FTSE ...

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