M&S news and archive

M&S expects modest revenue growth in FY24

Marks and Spencer plc reported sales of 11,988 million pounds, an increase of 9.9 percent versus 2021/22, driven by clothing & home sales up 11.5 percent, food sales up 8.7 percent and international sales up 12.6 percent. Statutory revenue in the period was 11,931.3 million pounds, an increase of 9.6 percent. In FY24, the company expects modest...

Retail

Seasalt Cornwall launches in M&S stores in Ireland

UK-based fashion and lifestyle brand Seasalt Cornwall is launching in three Marks & Spencer stores in Ireland at Mary Street and Liffey Valley in Dublin and St. Patrick’s Street in Cork this month. The move comes as part of Seasalt’s ongoing partnership with the retailer’s ‘Brands at M&S’ platform and follows the success of Seasalt’s two...

Retail |REPORT Featured

Shoptalk 2023: AI, more important than ever for the future of retail

During the latest edition of Shoptalk Europe, many topics about the future of retail were discussed, but if there is one thing that all the experts attending the congress agreed on, it is the role of AI (artificial intelligence). With a challenging macroeconomic environment, heightened expectations and intensified competition, investment in...

Retail |REPORT Featured

WRC 2023: Retail giants share the industry's key insights

For yet another year, this week the World Retail Congress brought together some of the world's most important leaders in fashion and retail as drivers of consumer trends and representatives of the current state of retail. The 2023 edition of the WRC took place in Barcelona. Experts from retailers such as Mango, Primark, Zalando, Sephora, Spanish...

Retail

Marks & Spencer adds Crew Clothing to its ‘Brands at M&S’ platform

When Marks & Spencer launched its Brands at M&S platform, it was part of the group’s strategy to reposition its fashion offer as a relevant retail destination. The latest brand added to its roster is Crew Clothing Company, which will see over 200 items from the brand’s collections available for purchasing online on M&S’s e-commerce website. The...

Retail

M&S invests 57 million pounds to increase pay for retail store staff

Marks and Spencer is investing 57 million pounds in its front-line retail staff, marking the retailer’s biggest-ever investment in its shop workers. In a statement, M&S said that from April 1, more than 40,000 store workers will see their hourly rate increase to 10.90 pounds, up by 70 pence. Employees in London stores will see their hourly wages...

RetailFeatured

M&S to future-proof its retail with 480 million pound investment and 20 'better' stores

Marks & Spencer is investing in its retail network, injecting 480 million pounds in what it said are bigger and better stores across the UK. In the next financial year the retailer expects to open 20 new stores, with 8 full-line destinations in city centres such as Leeds and Liverpool. The company said it would create 3,400 jobs as it moves to...

Report

Marks & Spencer reports strong Christmas trading

Clothing & home sales at Marks & Spencer plc (M&S) increased 8.8 percent during the third quarter covering the Christmas trading period with like-for-like sales up 8.6 percent and performance well ahead of the market. Clothing & home achieved over 10 percent market share in the period under review, its highest level since 2015. Store sales...

BusinessFeatured

M&S acquires Thread to accelerate its personalisation plans

British retailer Marks & Spencer has acquired the intellectual property, including the source code and algorithms developed by personalised fashion marketplace Thread to accelerate its personalisation capabilities. In a statement, M&S said that the acquisition will allow it to integrate “cutting-edge proprietary tech” into the M&S website as it...

ManagementFeatured

M&S clothing & home category records 14 percent sales growth

M&S clothing & home category delivered 14 percent sales growth and LFL sales increase of 13.7 percent for the first six months to October 1, 2022. The group's revenue increased 8.5 percent to 5.54 billion pounds. The company's first-half pre-tax profit grew 11.3 percent to 208.5 million pounds, while basic earnings per share increased 3.7...

Retail

Marks & Spencer unable to exit Russia due to franchise agreements

Western brands and fashion companies present in Russia that operate with franchise agreements are unable to exit Russia. As sanctions continue to see international retailers pause their operations, shutter stores or cancel deliveries, other companies, like Marks & Spencer, remain at the behest of local partners. M&S, which currently has 48...

Retail

British retailers call for hiring Ukraine refugees

Some of the UK’s biggest fashion businesses are lobbying to hire Ukrainian refugees. Major retailers including Asos, M&S and lush are hoping to ease restrictions for hiring non-citizens to support the humanitarian crisis ahead of an influx of refugees. The BBC reported the initiative is being led by British entrepreneur Emma Sinclair, the chief...