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

lol - learn the difference between opinion and fact. A requote of one of your alias's posting an opinion that flys in the face of the facts doesnt really achieve anything does it?

It's even funnier when you take account of the fact that the MKS trades listed on here have made an excellent return for me - yet the guy who's own posts on MDX (if true ...) demonstrate that he's lost almost 200k on MDX's decline feels the need to criticise such winning MKS trades.

Interesting post from the dark side

http://www.independent.co.uk/news/business/sharewatch/market-report-christmas-cheer-in-short-supply-at-ms-1061303.html

Dec 11th "Analysts at Morgan Stanley said a "big step-up in markdowns" was likely to affect M&S margins, making its assumption of flat gross margins in general merchandise "unachievable".

finally the press coming round. I've been banging this drum for a while now and is in essence (coupled with their low footfall) why I'm staying short over xmas (unless we spike to 2.80+).. MKS can sell everything 3 times over but if you don't make enough margin (profit) then you just have mo' problems next year.. I believe *allegedly the city want Rose out aswell.. nasty.

i agree .... though i closed my M&S short when i needed margin to allow me to buy back some of my IEC (another dull story!), i may re-open .... i am also short ASC, as though that is an excellent company, i think its forward pe is still about 20, which is far too high in this climate .... also short WPP because above-line advertising is in decline and WPP in particular is in for a very rough ride with so much of its revenue deriving from the (US) motor industry .... also short WOS as house building and associated trades have a long way to go until some sort of recovery is seen

covered a few 220.75

lest you guys have not seen already ......

MORE DISCOUNTS AT M&S AS FEARS GROW OVER PROFITS
On Thursday, Marks & Spencer is set to launch a new wave of pre-Christmas promotion offers as it battles what is understood to be calamitous recent trading, and concerns about its full-year profits. The retailer will slash prices by 30 per cent on men's and women's knitwear, its Autograph and Ceriso lingerie and its sleepwear range. According to trade magazine Retail Week, sales of core categories at M&S dropped by between 20 and 30 per cent last week.

If M&S don't clear their Christmas stock they are going to have trouble running the sales in Jan/Feb. That is assumung anyone wants to go the sales after having already experienced a month long sale in December.

i am now short both MKS and ASC, as retail numbers are going to be truly awful over the coming months

Under pressure (Sell: 175p target)

Industry sources indicate that M&S had an appalling week last week, with sales as much as 20-25% down on last year in some stores, with consumers clearly unimpressed by the modest promotions they had to offer last week and waiting for them to go on full Sale again.

However successful the two 20% Off Everything One-Day Sales were on Nov 20th and Dec 4th, it looks as if they simply pulled business forward and undermined consumer trust in the brand. With Debenhams upping the promotional ante again this week, with more Up to 50% off discounts, M&Ss hand may be forced and they may have to have another One-Day Sale again pre-Xmas, which would destroy whats left of their pricing power.

Either way, we need to further downgrade our LFL sales and gross margin assumptions for H2. We are sticking with our -7% LFL and -170 bp gross margin assumptions on Food in H2, but for Non-Food we are moving from -8% to -10% LFL sales in H2 (to end March) and building in more gross margin pressure (-65bps).

On this basis, ahead of the Q3 update on Jan 7th, we are cutting our full-year PBT forecast by 7% from 640m (which is much in line with consensus) to 599m (27.2p eps) and running that through to next year, cutting by 10% from 500m PBT to 450m (20.0p eps).
NH:
Is the dividend safe on this basis? Well, just about for this year, with cover of 1.2x, but the 22.5p divi wont be covered next year and is certain to be cut. We stick to our 14p div forecast (1.4x cover) and stick to our 175p TP (for an 8% yield for 09/10 and a similar PE).

M&S has many problems, with market share under pressure in both Food and Clothing, in a fast-declining retailing market and we still think the fast-depreciating freehold properties will be worth no more than the expected net debt of 3.1bn at year-end. M&S should survive the downturn, but investors have to appreciate that we have not yet got to the bottom of the alarming earnings and dividend decline it will suffer over the next 2 years to get there. We re-iterate our Sell.

from whom is the above? ..... apart from Farmer Pyjama who posted same!

Posted on iii

http://www.moneyam.com/action/news/showArticle?id=3502237

Leading retail analyst Nick Bubb of Pali International says industry sources indicate Marks & Spencer 'had an appalling week last week,with sales as much as 20-25% down on last year in some stores'.
Reiterating his 'sell' recommendation, Bubb says that consumers were 'clearly unimpressed by the modest promotions they had to offer last week and waiting for them to go on full sale again'.
He concludes, 'M&S should survive the downturn, but investors have to appreciate that we have not yet got to the bottom of the alarming earnings and dividend decline it will suffer over the next two years to get there.'
The dividend is 'just about' safe for this year with cover of 1.2x, says Bubb, but wont be covered next year and is certain to be cut

This is how M&S treat their staff!

"corporate bullying of M&S employees"

http://www.dailymail.co.uk/news/article-1094934/Husband-died-told-wifes-M-S-sacking-staff-discount-card-row.html

Husband died after being told of wife's M&S sacking over staff discount card row

A man died from a heart attack after learning his wife had been sacked by Marks & Spencer in a row over alleged misuse of her discount card, it emerged today.
Nery Clarks 39-year-old husband Stuart died when she told him she had been dismissed without notice after trying to buy groceries with the card.
The retail giant, which employed Mrs Clark at its Kensington High Street branch in central London for 13 years, was accused of corporate bullying by her union.

The GMB, which plans to fight the mother-of-fours case at an employment tribunal, said Mrs Clark had been off sick when rules on discount cards changed.
A spokesman said: M&S presented no evidence of previous incidents and discounted her evidence that she did not understand there had been a change in the rules.
The discount would have been less than 5. When she told her husband she had been fired, he was so distressed he had a heart attack and died. M&S upheld the dismissal on appeal.
Mrs Clark, 38, said: 'I was devastated by Marks and Spencers decision, after working for them for 13 years unblemished service. A management coach gave me the coupon and told me I could use it.'

An M&S spokeswoman said: Following a thorough investigation, we reluctantly had to make the decision to dismiss an employee from the Kensington High Street store for deliberate abuse of her staff discount card.
This was despite the fact that she had been told not to use it in that way.
The GMB linked the sacking with that of Tony Goode, who had leaked details of an M&S plan to cut back on redundancy payments.
The result of an appeal is awaited.
The union has lodged a claim for unfair dismissal.
Maria Ludkin, GMB legal officer, added: The case of Nery Clark shows how far M&S has moved from being a caring employer.
The GMB is investigating ways to establish the extent of corporate bullying of M&S employees.

Very tempted to cover part of my short at 215 - but sitting on my hands for the time being. I believe this has a lot further to fall, and my targets are around 10p lower.

Shame on M&S for bullying their own staffs.

Covered part at 210.

Which was nice.

can see why you did that, but i think no serious support until 200 ...... below that, and it's anyone's game

Maybe I should have waited a little longer - looking to cover the bulk of the position around 202 - 205. In the meantime I've been covering part and reopening higher for the past few weeks - and its nice to bank a bit every now and again.

no one ever went broke taking a profit

................ amd so many are going broke by not implementing stop-losses, cynic, let alone taking profits.

Naturally it's someone else's fault. ;-))

אַ פֿרײליכע ניטל און אַ גוטער נײַער יאָר to you two :)


Ooops in case you're a bit rusty - that's a freylikhe nitl un a guter nayer yor ;)
Oh - and a merry everything to you BigA :)