|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||6.00 - 6.11|
|52 Week Range||6.00 - 8.40|
|Beta (3Y Monthly)||1.19|
|PE Ratio (TTM)||127.29|
|Forward Dividend & Yield||0.35 (4.68%)|
|1y Target Est||9.65|
British stores group Marks & Spencer takes a big step into online retail, paying out £750 million to own half of online grocer Ocado's UK retail business. Francis Maguire reports.
Shares in Britain's housebuilders and retailers tumbled and sterling slid on Wednesday after multiple media reported rumors Prime Minister Theresa May's ministers could oust her in a row over her latest deal to exit the European Union. The reports, underscoring deepening uncertainty over Britain's leadership, gave Brexit-sensitive stocks and sterling their first major jolt since March when the then Brexit deadline was looming. Housebuilders Taylor Wimpey, Berkeley Group, Barratt Development, and Persimmon fell sharply, down 3.7 to 5.4% by 1450 GMT.
Marks & Spencer Group Plc plans to open more large food stores, shifting away from a strategy of expanding smaller convenience outlets as it prepares for an alliance with online grocer Ocado Group Plc. The prospect of another costly store revamp as profit falls weighed on the U.K. retailer’s shares, which declined as much as 5.4% on Wednesday. Marks & Spencer said a 601 million-pound ($763 million) shareholder rights issue to finance the Ocado deal was fully underwritten.
The exporter-heavy FTSE 100 index gained on the back of a weaker pound on Wednesday as lawmakers signaled they would not back Prime Minister Theresa May's latest Brexit compromise, while Marks & Spencer slumped after a discounted rights issue. The main index, whose companies get more than two-thirds of their profit from abroad, advanced 0.6% by 0727 GMT while the more domestically-focussed FTSE 250 was up 0.1%. Internationally-exposed companies British American Tobacco , Unilever and Diageo were among the biggest support to the blue-chip index.
European shares edged lower on Wednesday as concerns over a protracted U.S.-China trade war again worried investors, while a drop in the pound propped up London's blue-chip index. The pan-European STOXX 600 index was down 0.1% by 0708 GMT with Germany's DAX, traditionally sensitive to trade issues, down 0.2%. A report that the United States is considering limits on Chinese video surveillance firm Hikvision added to the list of tensions between the two sides ahead of a summit later this month.
MADRID/NEW YORK, April 9 (Reuters) - Chico's FAS Inc warned in January that it would shutter at least 250 stores across its namesake brand, along with its White House Black Market and Soma labels. While that growth should entice any retailer, Chico's is one of a growing number of clothing brands treading carefully. From Nike Inc and Under Armour Inc to Lands' End Inc and Levi Strauss & Co, major brands are distributing clothing and accessories directly through Amazon.com, attracted by more than 100 million members of Amazon's loyalty club Prime and its advanced delivery network.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Britain's FTSE 100 continued its winning streak as oil majors and miners boosted the index and Ocado climbed to a life high after posting higher first-quarter retail sales. The FTSE 100 was up 0.5 percent, holding on to its five-month high from the previous session, and the FTSE 250 was roughly flat by 0842 GMT.
ROSS-ON-WYE, England, March 18 (Reuters) - For almost 100 years, Chris Chinn's family has farmed asparagus in the rolling hills of the Wye Valley in western England. This year, he fears uncertainty around Britain's departure from the European Union will keep his eastern European workers away and the asparagus will stay in the ground. Asparagus grown in Britain is feted by chefs as among the world's best but the seasonal worker shortage threatens the country's asparagus industry and the viability of Chinn's Cobrey Farms business.
Britain's Marks and Spencer and Ocado launched an online food joint venture on Wednesday, belatedly giving M&S a home-delivery service while netting $1 billion for its fast-growing technology providing partner. M&S, Britain's best-known stores group, has lagged rivals in tapping into Britain's fastest growing grocery area, which industry researcher IGD expects to expand by 52 percent over the next five years to 17.3 billion pounds. Under the deal, Ocado's retail arm will become a joint venture with M&S, which will pay 750 million pounds ($1 billion) for its half share.
PLC (MKS.LN) fell nearly 10% in early trading Wednesday after the U.K. retailer announced that it would be cutting its dividend payout and calling on shareholders to raise funds. M&S made the disclosure as it formally announced a “transformational” deal with online grocer Ocado Group PLC (OCDO.LN). Under a new joint venture with Ocado, which was widely reported in the press earlier this year and confirmed by the companies Tuesday, M&S will buy a 50% share of Ocado’s U.K. retail business for up to 750 million pounds ($989.3 million).
British high street chain Marks & Spencer (M&S) is in talks with Ocado to form a joint venture that would give M&S a full online food delivery service for the first time, sending shares in both companies surging on Tuesday. Britain's best known store group and the online supermarket pioneer released short statements confirming discussions after London's Evening Standard newspaper said M&S was set to pay 800 to 900 million pounds ($1.05-$1.19 billion) for a 50 percent stake in a combined online retail business. One source with knowledge of the situation indicated the cost to M&S would be lower.
Ocado Group Plc, which said its pretax loss on Tuesday surged, wants to extricate itself from at least part of the U.K. grocery business. It’s not hard to see why the company’s CEO, Tim Steiner, would want to move away from the daily grind of online grocery to concentrate on the whizzy technology arm. It is not clear what form a transaction would take, but one option would be for M&S to provide some of the food sold by Ocado once the latter’s contract with Waitrose expires in September 2020.
British blue-chip shares surged to their highest in nearly three months on Tuesday as heavyweight BP doubled its annual profit and miners rallied on higher iron ore prices while a weaker pound was also supportive. The midcap index also touched its highest since November with a 0.8 percent rise. Export-focused blue chips including British American Tobacco , GlaxoSmithKline and AstraZeneca rose on the weaker pound.
Britain's food supply could be seriously disrupted if it leaves the EU without a deal, a lobby group representing Sainsbury's, Asda, McDonald's, KFC and other firms said on Monday. Problems would be particularly acute around March, when Britain is scheduled to quit the bloc, and when most of its produce from lettuces to tomatoes is out of season, with a higher percentage imported, the British Retail Consortium (BRC) added.
European shares opened in negative territory on Monday as optimism about the end of the U.S. government shutdown faded and investors braced for an eventful week with key votes on Brexit, Sino-U.S. trade talks and a Federal Reserve policy decision. "Investors may want to stay cautious ahead of what is going to be a busy week with Central bank speeches, the Brexit vote in the UK Parliament and several important data releases in the U.S." wrote ActivTrade analyst Pierre Veyret. Another strong loser was Alstom, which fell 2.1 percent after the French group and Germany's Siemens offered new concessions to try to satisfy antitrust concerns of the European Commission for their plans to create a joint European rail champion.
Here's a summary of some of the sectors and stocks in the United Kingdom that are gaining and losing from May's big Brexit deal loss.
British shares turned around on Thursday to end the session at their highest in over a month as investors shrugged off a lack of detail from Sino-U.S. trade talks and weak news from the high street that renewed worries about the retail sector. European and Asian markets suffered an initial fall when the world's two largest economies failed to give concrete details of efforts to end their trade war, and on growing concerns of political instability in the United States. President Donald Trump stormed out of talks with Democratic congressional leaders on Wednesday over funding for a border wall with Mexico and reopening the government.
Company invites individual and institutional investors, as well as advisors, to log-on to view the presentation LONDON , Nov. 19, 2018 /CNW/ -- Marks & Spencer plc (MKS) (OTCQX: MAKSY), today announced ...