Marks & Spencer To Close 67 Stores While Opening 104 Food Stores Over Next 5 Years

RTTNews | 930 days ago
Stocktwits
Marks & Spencer To Close 67 Stores While Opening 104 Food Stores Over Next 5 Years

(RTTNews) - Marks & Spencer Group Plc (MAKSY.PK, MAKSF.PK, MKS.L) said Wednesday it will invest 200 million British pounds across the C&H and Food divisions over the next few years while reshaping for growth and value creation, according to an investor presentation made by Chief Executive Stuart Machin and Co-Chief Executive Katie Bickerstaffe.

The company is also looking to build towards about 400 million pounds in underlying cost savings from overheads.

The retailer will close 67 lower productivity full line stores, while opening 104 more high productivity, high quality Food space over the next five years, but aiming for three years.

The company is also looking to more than double international operating profit by fiscal 2028, with India revenue CAGR target of 20% and strengthening markets in Indonesia, Middle East and Asia.

Tags: MAKSF.PK MAKSY.PK MKS.L
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M&S Stock Up On Higher FY24 Results, Dividend, Outlook

M&S Stock Up On Higher FY24 Results, Dividend, Outlook

Shares of Marks and Spencer Group Plc or M&S were gaining more than 7 percent in the morning trading in London after the retail major reported Wednesday significantly higher profit and sales in its fiscal 2024. The company also announced a dividend, and said it is confident to make further progress in 2025 and beyond.
RTTNews | 342 days ago
Marks And Spencer Appoints Jeremy Townsend As Interim CFO

Marks And Spencer Appoints Jeremy Townsend As Interim CFO

Marks and Spencer Group Plc (MAKSY.PK, MAKSF.PK, MKS.L) announced Friday that Jeremy Townsend is joining the business as Interim Chief Financial Officer. Jeremy joins on Monday, on November 22, and will report to Chief Executive Officer Stuart Machin.
RTTNews | 893 days ago
Hong Kong Shares Tipped To Open In The Green

Hong Kong Shares Tipped To Open In The Green

The Hong Kong stock market has alternated between positive and negative finishes through the last four trading days since the end of the three-day winning streak in which it had jumped more than 1,000 points or 4.5 percent. The Hang Seng Index now sits just above the 22,000-point plateau and it may add to its winnings on Wednesday.
RTTNews | 7 minutes ago
Australian Market Modestly Higher

Australian Market Modestly Higher

Australian shares are trading modestly higher on Wednesday, adding to the gains in the previous four sessions, with the benchmark S&P/ASX 200 moving up to near the 8,100 level, following the broadly positive cues from Wall Street overnight, with gains financial and technology stocks partially offset by weakness in energy stocks.
RTTNews | 20 minutes ago
China Bourse Poised To End Losing Streak

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The China stock market has finished lower in three straight sessions, sliding more than a dozen points or 0.4 percent along the way. The Shanghai Composite Index now sits just beneath the 3,290-point plateau although it may stop the bleeding on Wednesday.
RTTNews | 22 minutes ago
Taiwan Stock Market May Add To Its Winnings On Wednesday

Taiwan Stock Market May Add To Its Winnings On Wednesday

The Taiwan stock market has finished higher in three straight trading days, gathering more than 750 points or 3.7 percent in that span. The Taiwan Stock Exchange now sits just above the 20,230-point plateau and it's tipped to open in the green again on Wednesday.
RTTNews | 52 minutes ago
Japan Retail Sales Climb 3.1% On Year In March

Japan Retail Sales Climb 3.1% On Year In March

The value of retail sales in Japan was up 3.1 percent on year in March, the Ministry of Economy, Trade and Industry said on Wednesday - coming in at 14.063 trillion yen.
RTTNews | 1h 6min ago
Japan Industrial Output Sinks 1.1% In March

Japan Industrial Output Sinks 1.1% In March

Industrial production in Japan was down a seasonally adjusted 1.1 percent on month in March, the Ministry of Economy, Trade and Industry said on Wednesday.
RTTNews | 1h 12min ago
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