Retail Sector

The Marks & Spencer 'Evolution'

Having unveiled the three-year blueprint for the retailer, Marc Bolland is said to have outlined a plan to steer Marks & Spencer out of the path of the big supermarket groups yesterday.

Marc Bolland has taken over as the Chief Executive in May. He is said to have delivered his vision for the restoring of the M&S to greatness in rigorous detail, focusing on improving the core British business.

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Sainsbury Puts Forth Expansion Plans

J Sainsbury soon after opening up new stores and pushing its sales of non-food items, is said to have overcome a challenging consumer environment so as to post a strong pre-tax profit growth for the first half, which is said to be up by 8% to £332m.

Justin King, Chief Executive made a statement on Wednesday saying that it expected the Sainsbury to continue outperforming on its expansion plans and its mix of premium and basic items. He however said that the economy was likely to remain `very tough and challenging', for consumers.

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BRC Survey Blames Hike in Food Prices for an Increase in Sales Revenue

A survey by the British Retail Council has pointed towards the hike in food prices for the increase in the rate of growth of retail sales in the UK. The survey means that the minor increase in sales for the months of September and October was not because of an optimistic outlook or discretionary purchases, but rather out of compulsion.

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Primark Revenues Increase regardless of negative Future Outlook

Associated British Foods (ABF) reveals that its daughter, the fashion chain Primark, can look back on an excellent business performance on the clothing market this year. The Retailer reported on revenues of £341 million by Mid September while opening new stores all over Europe.

The retailer makes use of high profits guaranteed on the international fashion market especially in Spain. This leads to an exemplary sales increase of ABF by 10% to £10.2 billion. Besides fashion items, the company produces bread, sugar, tea and further nutrition products.

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M&S Announces Aggressive Expansion and Evolution Plans

Marks and Spencer (M&S) is set to embark on a long-awaited strategic review, which will target increased internet revenues, reduced sales of branded goods and almost doubled international sales over the next four years growth.

Mr. Bolland, the company's new Chief Executive, stressed that the plan is "evolution and not revolution"; although the targets are ambitious they do not imply a radical reshaping of the M&S brand. The strategic review will kick off with a greater focus on M&S' own products, under the banner `Only at M&S'.

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