Marks & Spencer (MKS LN, BUY, T/P 365p) - Half Year Results - Repo Man (again)
M&S has surprisingly announced that it needs to re-position its Food Offer having previously guided to a 7% space increase in the current year. This will have a negative effect on earnings while the re-positioning takes place – albeit the company is not providing detailed guidance for 2018/19E yet - the year when the impact is likely to be felt in our view. It is clear that M&S will further have to instigate a large scale online programme in Food.Marks and Spencer Group is the holding company of the Marks & Spencer Group of companies. As a retailer, Co. provided its own-brand food, clothing and home products in its 1,433 stores worldwide and online as of Apr 1 2017. As of the same date, Co. sold food through 942 U.K. stores, including 253 owned and 383 franchise Simply Food stores; and own-brand clothing and homeware through 343 full-line stores, Outlets and its M&S.com website. Co. focuses on contemporary style and wardrobe essentials, and provides Womenswear, Lingerie and Menswear. Co. exports M&S Clothing & Home and Food around the world, with stores across Europe, Asia and the Middle East.
Whitman Howard is an independent institutional stockbroking and investment banking business focused on servicing the needs of our corporate clients and institutional investor base.
The company began trading in 2011 with a team of highly experienced market professionals and the goal of building a leading capital markets business in an entrepreneurial environment.
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