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

RTTNews | 623 days ago

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: MKS.L MAKSF.PK MAKSY.PK

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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 | 35 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 | 586 days ago

Malaysia Bourse May See Additional Support

Malaysia Bourse May See Additional Support

The Malaysia stock market on Wednesday ended the seven-day losing streak in which it had slumped more than 25 points or 1.5 percent. The Kuala Lumpur Composite Index now sits just above the 1,590-point plateau and it may add to its winnings on Thursday.

RTTNews | 4h 23min ago

KOSPI Poised To Extend Winning Streak

KOSPI Poised To Extend Winning Streak

The South Korea stock market has moved higher in back-to-back sessions, gathering more than 25 points or 1 percent along the way. The KOSPI now rests just above the 2,790-point plateau and it may tick higher again on Thursday.

RTTNews | 4h 53min ago

TSX Recovers After Early Setback, Ends Slightly Up

TSX Recovers After Early Setback, Ends Slightly Up

The Canadian market ended with a small gain on Wednesday, as stocks recovered gradually after an early setback, with those from the materials sector performing well and contributing to the rise from lower levels.

RTTNews | 5h 46min ago

Japan Retail Sales Data Due On Thursday

Japan Retail Sales Data Due On Thursday

Japan will on Thursday release May numbers for retail sales, highlighting a light day for Asia-Pacific economic activity.

RTTNews | 5h 53min ago

Dollar Rises Against Major Counterparts

Dollar Rises Against Major Counterparts

The U.S. dollar climbed higher on Wednesday, scoring gains against most of its major counterparts, amid uncertainty about an interest rate cut sometime soon following hawkish comments from some Fed officials.

RTTNews | 6h 35min ago

U.S. Stocks Close Flat After Cautious Session; Nasdaq Outperforms

U.S. Stocks Close Flat After Cautious Session; Nasdaq Outperforms

U.S. stocks closed slightly higher on Wednesday after a somewhat sluggish session as investors made cautious moves while awaiting the release of personal consumption expenditures price index report, due on Friday.

RTTNews | 7h 13min ago

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