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

With debt increasing from 1 billion to 2.5 billion and 2 latest profit warnings, MKS is a sell at 250p

222p now.

Marks & Spencer sales slump 6% - MoneyAM


Marks and Spencer, the UK's biggest clothing retailer, this morning reported a 6.1% drop in second-quarter underlying clothing and homewares sales, slightly better than forecasts, and said it was cutting spending in a tough trading environment.

The company said like-for-like sales fell 6.4% in the 13 weeks to September 27th.

Food sales on the same basis were down 5.9%.

Underlying general merchandise sales were forecast to fall 6.4% and food sales 6.5%.

Marks & Spencer shares have plunged over two-thirds in value over the past 18 months and was savaged after a profit warning in July, when the group said it was suffering from a consumer downturn and mistakes at its upmarket food business.

'Consumer confidence remains fragile and the retail environment unpredictable,' said Chairman Stuart Rose. 'Consumers are increasingly cautious about their budgets.'

M&S, whose 600-plus UK stores are visited by more than 21 million people every week, said it had stepped up promotions and, as a result, expected UK gross margin, a measure of profitability, to fall 100 basis points this financial year.

Faced with speculation it might have to cut its dividend, M&S said it would rein in capital spending to 700m from its previous guidance of 800m to 900m and would cut this to 400m next financial year.

TIME TO BUY 225

It's time to sell MKS at 220p.

On the way to sub 200p.

No position here but should it fall to 150/170p I would be interested

200p sometime this week or next week.

noooo....170p more like it.

Trading update tomorrow explains todays fall .

Today ain't the crucial fall yet.

wheres sub 200p hyleo??

I think hlyeo was a little optimistic thinking he could purchase sub 2..I am privy to a stores weekly figuresyou are a long way out mate.just purchased max..shares on wifes share save schemes.20% discounted on close of todays price locked in for 3-5 years + bonus.along with thousands of other staffthats a lot of stock!.. retail confidence knocking SP more than store performances.

see Supermum's analysis in todays traders' thread.

I note also that shares rag calls it as a short.

Me? mildly long with a tight stop.

Huge % rise last weekprofit taking for sure this week.but a good stock to hold for the future 2 years +

Put these in my "dog" portfolio on 31.10.08 along with LGEN , BT.A and VOD based on my estimate of divi for coming year.

Sunday mail added 3 of them to their "dog" portfolio yesterday I think , these being one of them.

Tabby , shares purchased via the share purchase scheme are tiny in the overall scheme of things.

Dilthere are a good few staff purchased maximum shares todayprevious option prices on the sharesave were so high compared to SP.they were all cashed in.there are an unbelievable amount of staff on max. today.

I'm out

Sorry to hear you are out Gausie 2-26 I see at presentI wonder if that is going to be a good call?.lets make a note of it anyway.