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Marks & Spencer - CEO review leads to eps downgrades

August 2016

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • MKS
  • Price:
  • 299p
Full year results showed underlying pretax profit rising 4% to £689m with eps up almost 6% to 35p. Net debt fell £90m to £2,140m, even though £452m was returned to shareholders (£301m dividends, £150m buy-back). A special 4.6p dividend was also announced for H1 ’17.General merchandise (Clothing & homeware) like-for-like sales fell 2.9% but gross margins improved 2.45% thanks to sourcing cheaper goods in Asia. On the food side like-for-like sales rose 0.2%.More significant is new CEO Steve Rowe’s strategy for the future. A big priority is to finally kick start sales growth in clothing following years of declines. Broker Jefferies highlights his focus on “& ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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