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SharePrice.com - UK Share Information - Sunday, 16th June 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

Friday, 14th June 2019

Decent US retail sales figures helped lift global markets out of their torpor on Friday afternoon with the FTSE 100 recovering some ground to trade down 0.3% to 7,345.78.  By 4.30pm ...
Friday, 14th June 2019

The FTSE 100 fell 0.6% to 7,326.36 by midday with the market reeling from geo-political tensions in the Middle East and weak Chinese industrial production data.  Construction firm Kier dropped 19.6% ...
Friday, 14th June 2019

UK stocks opened lower on Friday as relations remained strained between the US and Iran over attacks on two oil tankers, and Hong Kong citizens planned more protests over the ...

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