anything under 7 cheap cheap cheap. good div. just paid. chart looks sick

300p imho.

LONDON (Reuters) - Marks and Spencer reported its worst quarterly performance in two years on Wednesday and warned the pain for retailers could extend into 2009, sending its shares down 21 percent and weighing on the sector.

The retail bellwether shocked investors with a 2.2 percent fall in sales at UK stores open at least a year during the crucial Christmas period, after lowering prices across the board to lure shoppers spooked by the credit crunch.

"Dreadful numbers," broker Panmure wrote in a research note as several analysts cut profit forecasts and questioned whether Marks and Spencer would achieve its long-anticipated pretax profit of 1 billion pounds this financial year.

The stock suffered its largest fall since entering the benchmark FTSE-100 in 1983, touching a two-year low of 398 pence at one point. Analysts had expected zero to 1 percent growth.

"In this market you just can't afford to disappoint.''

Couple of things spring to mind re MKS.

Two years ago every man and his dog was saying sell in the 350p region, then the remarkable doubling of the SP, seemingly based on a terrific food ad campaign.

The huge problems they have had with their internet service over the Xmas period, the magnitude of which has yet to be realised or made public knowledge. Anyone who has used the service will know what I'm talking about.

£3 may be a little generous.

Perhaps with hindsight not discounting in the run up to Christmas was the reason for the 2.2% like for like sales decline but it did protect profit margins. Rose is no mug the 20% fall in the sp has been overdone.

I think food was more disappointing. I was not surprised with the tough conditions elsewhere. Bit surprised with sp fall but the prospects for the uk economy do look bleak which is not helping. Rose is looking to expand the business abroad and MKS will remain a core holding for me at this time.

Yes and me, dont forget it is not so long ago Philip Green was prepared to offer £4 per share for MKS. There are probably any number of foreign investors interested in buying into this cash machine. I dont think that retail sales are about to collapse or that the future is bleak, rather that there will be a slowdown which should be considered quite acceptable after such a prolonged period of growth.

toyboy, are you interested in my shares at 20? or even discounted by 50% in the jan sale = 10. sale ends mon.8pm,

toyboy, are you interested in my shares at 20? or even discounted by 50% in the jan sale = 10. sale ends mon.8pm,

On 9/1/2008 Rose bought further 250,000 shares @ 410.66p increasing stake to 750,416 shares. Lord Burns(ch) bought 24,316 shs, which doubles his stake and Steve Esom and Carl Lever made maiden purchases spending 100,000 and 73,595 respectively.

Wow! Management buy out coming?!!

Have to go short of M&S as Mr Rose can no longer afford to provide me with a plastic bag to put his plastic covered foodstuffs in. They must be really hard up if they have to charge customers 5p for a bag which was previously provided free of charge!

Plastic bags are a luxury nowadays.

Marks & Spencer Group, the fashion and food retailer, today reported a better than expected 7.9% increase in underlying full year pretax profit, achieving the symbolic 1bn mark., while lifting its dividend 23% to 22.5p per share.

But the group said it expected market conditions to 'remain difficult for the foreseeable future' and reported 'mixed' trading in the first seven weeks of its new financial year.

It said April was 'a difficult month', reflecting dramatically different weather patterns compared with the same period last year. May to date has shown 'a marked improvement'.

For the year to March 29th 2008 M&S made an underlying pretax profit of 1.007bn. This compares to analysts' consensus forecast of 989m and 965m achieved in the previous year.

Sales increased 5.1% to 9.02bn.

The dividend was up 23% to 22.5p.


sp 417p

Sector certainly having a rough ride and things will get even choppier over the next year. At least the dividend is up which will please the longer term holders.
Eyes will be on further overseas expansion.

Hope things gets better soon, and shares go high again to enable me to sell it.

3.80 sooon

good strong well managed company but in a week market. Can not see them advancing much at the moment given the economic situation. Food should continue to do well with more people eating in, instead of going to restuarants. Looking to increasing overseas earnings via joints ventures.

doubt it.....people r spending less in shops....and ms is expensive for food ......i dont go as much as i used compared to last year so they must be losing at least 20 quid a week from me......yes it aint much but if a lot of people like me are doing it, then ms need to do things to bring people like me to spend money for food again.

Word on the street is that frozen food, Lidl and Aldi are in vogue

i saw that on business lunch yesterday.....they have got 5 or 6% of food market which is worry to tesco, sainsbury etc, lol as they been backing labour party in last decade.

i hate tesco domineering every small town in this country with lories bombing up and down the motorway continuously

The Guardian says that growing your own veg. is the new rock'n roll also, though I have found that the slugs and snails get most of the benefits, a bit like brokers!