Marks & Spencer news and archive

UK government puts end to ‘period pants tax’

As part of the government’s Autumn Statement, the chancellor has announced that period pants will be free of value added tax (VAT) from January onwards, a move that was met with celebration from retailers, women’s organisations and customers alike. Earlier this year, such groups rallied together on a campaign that called on the government to...

Business

Marks & Spencer, H&M and Adidas in Forbes best companies for women 2023 ranking

How do you define the best companies for women? Those who take the initiative for their well-being and development? According to Forbes magazine, these are companies that offer flexible working arrangements, skills development programmes, family leave options and a mission that is aligned with women's empowerment. This list of criteria is, of...

Business

M&S posts profit growth, restores dividend

Marks & Spencer (M&S) recorded a first half pre-tax profit increase to 360.2 million pounds and statutory pre-tax profit increase to 325.6 million pounds. M&S Clothing & Home sales were up 5.7 percent with LFL sales up 5.5 percent and adjusted operating profit rose to 223.4 million pounds and margin was 12.1 percent. The company said in a...

Retail

Marks & Spencer to open nine stores in November

British department store retailer Marks & Spencer is set to open nine new stores during November in what it said will be its “biggest ever store opening month” to date. The company added that it would be investing 80 million pounds into “sustainable” physical locations, starting with a new 65,000 square foot store in Birmingham’s Bullring,...

Business

Adidas and Sweaty Betty to join Marks & Spencer’s sportswear offering

Marks & Spencer is expanding on its sports edit, adding sportswear giants Adidas and Sweaty Betty to its curation as part of efforts to bolster its ‘Brands at M&S’ strategy. The duo will also be building on ‘The Sports Edit on M&S’ platform, where the retailer is rapidly increasing its sportswear selection following a strategic investment into...

Business

Marks & Spencer returns to FTSE 100 as share price surges

British department store retailer Marks & Spencer has returned to the FTSE 100 index for the first time in four years after its shares began to surge. This year, the company’s share price has risen beyond 75 percent following a series of store revamps and investments in certain regions of the UK. The retailer’s chief executive Stuart Machin told...

Business

Government to keep period pants tax under review

After two weeks of campaigning and petitioning among retailers and the general public, the UK government has now said it will be keeping its tax on period pants under review. The response comes amid heightened efforts and increased calls on the government to end tax on the products as part of the ‘Say Pants to Tax’ campaign, launched by Marks &...

People

Marks & Spencer chief digital and technology officer steps down

The head of tech at British high street giant Marks & Spencer is reportedly stepping down after five years in the role despite a recent promotion. Chief digital and technology officer Jeremy Pee was in charge of heading the retailer’s shopping app and loyalty scheme, which have played an increasingly key role at the business as it focuses more...

Business

M&S on track to re-enter FTSE 100

Marks & Spencer (M&S) is on track to re-enter the FTSE 100. Informally known as the "Footsie", it is a share index of the 100 companies listed on the London Stock Exchange with the highest market capitalisation. M&S has had a stellar year, with shares up 61 percent and already a best performer in the FTSE 250. With a valuation of 3.97 billion...

BusinessFeatured

M&S reports strong trading, raises profit forecast

British retail giant Marks & Spencer has raised its full-year profit guidance after reporting strong sales in the year to date. The high street retailer announced Tuesday that like-for-like clothing and home sales grew over 6 percent in the 19 weeks to August 12, with strong growth in stores, and more subdued growth online. It said its sell...

Retail

Marks & Spencer to invest 13 million pounds in North East retail network

Department store chain Marks & Spencer has announced a 13 million pounds investment into its North East retail estate, starting with a redesign of its Newcastle store beginning this month. The retailer said that its Northumberland Street location will be transformed through a multi-million pound redesign, with a refresh of its Foodhall,...

Business

Council rejects Marks & Spencer Marble Arch renovation, CEO speaks out

After what has been a lengthy two-years of back-and-forths, communities secretary Michael Gove has finally decided to refuse permission for Marks & Spencer to demolish its March Arch location. The retailer had initially been granted permission to knock down the historic building and replace it with a modernised set up, complete with offices and...