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

Half Yearly Report.

"Marks & Spencer performs well in a challenging environment"

Half-year results:

Group sales ex VAT up 2.4% at 4.7bn

Total UK sales ex VAT +1.6%: General Merchandise -0.8%; Food +3.9%

Like for like UK sales ex VAT +0.5%: General Merchandise -1.3%; Food +2.1%

International sales ex VAT +9.0%

Underlying profit before tax1 315.2m (last year 348.6m)

Profit before tax 320.5m (last year 348.6m)

Underlying basic earnings per share 15.6p1 (last year 16.6p)

Basic earnings per share 16.0p (last year 16.6p)

Interim dividend 6.2p per share (last year 6.2p)

Net debt 1.97bn (last half year 2.2bn)



Operational highlights:

In General Merchandise we invested in offering customers better value in a highly promotional market

Strong performance in Food

Maintained market share2 in Clothing and Food despite tough comparatives

Managed our cost base tightly

Delivered more choice in stores through innovation:

- 900 new lines launched in Food

- first ever fast fashion collections introduced in M&S Woman

M&S Direct sales up 11.7% with over 3 million visits per week

International sales up 9% with strong LFL growth in key markets

Good progress with supply chain and IT programme implementation

Progress against the three year plan

Launched new 'Only at Your M&S' ranges including

- 100 new international food brands

- New Conran and Marcel Wanders collections in Home

New store segmentation and in-store presentation pilot launched in 15 stores

M&S brand and all clothing sub-brands re-launched

French shopping website now live; new Paris store opening before Christmas

Style Online multimedia shop trial now in 3 stores

Exclusive new menswear collaborations announced today with Richard James

Through 340 atm.

Gone short here @343

Just been closed @332.2 + 10.8

good one skinny :O)

Cheers Chris - looks like I was a bit premature.

Aye unlucky skinny, hope all those who bought at the open managed to get out quick.

Interim Management Statement.

'Marks & Spencer performs well in a challenging trading environment'

· Group sales ex VAT +2.4%
· Total UK sales ex VAT +1.8%: General Merchandise -0.8%, Food +4.5%
· Like for like UK sales ex VAT +0.5%: General Merchandise -1.8%, Food +3.0%
· Direct sales ex VAT +22.4%
· International sales +8.1%

.

RNS Number : 8849V

Itm Power PLC

20 January 2012

20 January 2012

ITM Power plc

("ITM Power")

Pilot Agreement with Marks and Spencer Group plc ("M&S")

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has signed a pilot agreement with M&S (LSE: MKS) to deliver the UK's first hydrogen fuel cell, materials handling equipment trial using on site hydrogen generation.

Using the ITM Power HFuel platform to generate hydrogen, the six week trial involves M&S using several fuel cell vehicles as a direct substitute for part of the existing battery powered fleet. The vehicles will be deployed at M&S's 1.1million sq. ft. Prologis Park Distribution Centre.

The trial forms part of the M&S Plan A initiative and aims to deliver zero emission vehicles with superior performance and a two minute refuel time. The trial is the first of its kind in the UK and demonstrates the cutting edge vision of M&S and ITM Power.

The global materials handling market, valued at US$20 billion, is seen as a key early adoption market for hydrogen with fuel cells already being able to offer superior performance to battery powered systems.

Graham Cooley, CEO of ITM Power commented:"The involvement of companies such as M&S is essential to developing commercially viable hydrogen solutions for the materials handling industry. We are extremely pleased to be conducting this trial with M&S who continue to lead the way for sustainable technology deployment."

Darrell Stein, Director of IT and Logistics for M&S commented:"We are excited to be trialing this solution with a company like ITM Power, and with a technology which has the potential to drive significant carbon reductions from our warehouse operations. If we're to achieve our ambitious goal of becoming the world's most sustainable major retailer then we must continue to innovate and push the boundaries in every part of our business".

Followers of the retail sector should keep their eyes open on Tuesday, as we get a fourth quarter update from Marks & Spencer ahead of full-year results a month later. There's a modest fall in earnings for the year currently expected, but forecasts for the following two years are stronger, with both earnings and dividends tipped to head in the right direction.

The shares have recovered something of late, climbing quite nicely from the start of the year, though they have fallen back a little in recent weeks. But even after the recent appreciation, a well covered dividend of around 4.5% is still expected for this year, so that fourth quarter will be well worth a closer look.

Tuesday April 17 =

Marks & Spencer is set to post an improvement in fourth-quarter sales, spurring hopes that the worst of the conditions on the high street might be coming to an end.

Britain's biggest clothing retailer is expected to report that like-for-like sales of what it calls general merchandise non-food products, including its all-important womenswear has increased by 0.2pc, according to a poll of 10 analysts.

Sales of food are expected to slow down from the 3pc rise in the third quarter, which benefited from Christmas spending, to about 1.6pc

Q4 Trading Statement.

'Continued progress in a challenging market'

· Group sales +0.8%
· Total UK sales +1.2%: Food +3.1%; GM -1.2% (Clothing -0.3%, Home -7.5%)
· Like for like UK sales -0.7%: Food +1.0%; GM -2.8%
· Direct sales +22.8%
· International sales -2.0%

..Marks & Spencer Runs Out Of Clothes!

.Symbol Price Change
MKS.L 358.70 -9.00

......
Sales at Marks & Spencer fell short of fourth-quarter expectations, but for an unusual reason -- too many people wanted to buy the group's clothes. Or rather, problems with supplies meant that the demand for some lines could not be satisfied.

Britain's largest clothing retailer, it seems, could have shifted three times the 100,000 cardigans and jumpers it sold from its most popular lines during the quarter, but failed to buy in enough stock. The problem, so M&S said this morning, was temporary, and full-year sales targets should still be hit.

But it did mean that like-for-like sales in the clothing and homeware departments were down by almost 3%, though a 1% rise in food sales saved the day a little and brought overall like-for-like sales back to a small fall of 0.7%. Taking into account new openings, overall group sales advanced by 0.8%.

And echoing the growing influence of online markets, sales at M&S Direct grew strongly, by 23%.

But the real question is how well is M&S doing against its plan to revamp the business?

http://uk.finance.yahoo.com/news/marks-spencer-suffering-lack-confidence-162209272.html

..M&S finance arm faces £52m PPI bill

By James Quinn | Telegraph – 1 hour 24 minutes ago

Marks & Spencer’s banking arm is facing a £52m bill as a result of potential mis-selling of payment protection insurance to its customers.

Marks & Spencer Financial Services, which is owned by HSBC (LSE: HSBA.L - news) but in which the retailer has a financial interest, has set aside the money as a result of its own assessment of likely claims.

The banking unit has however admitted that there is a “high degree of uncertainty as to the eventual cost” of compensating angered customers.

The accounts, recently filed at Companies House, show the business made profit before tax of £76.3m in 2011 against £74.8m in the prior year. But it did not stop dividends of £60m from being paid in the year to its two shareholders - the retailer and the bank - up from £40m in 2010.

HSBC bought the business in 2004, but M&S (LSE: MKS.L - news) still receives 50pc of earnings.

..

There will be news from the high street in the form of final results from Marks & Spencer on Tuesday, and what long-term investors will be looking for is news of its store revamp and refitting operation. Last month's Q4 update looked "steady as she goes" more than anything, and full-year results are expected to be modest. But the new store format came in for favourable comment, and the planned roll-out completion for mid-2013 is still on. At 343p, the shares are on a P/E of just over 10, with a well-covered 5% dividend forecast

The days when Marks & Spencer made £1bn of profit in a single year are long gone. City forecasts suggest that a combination of terrible high-street conditions and a steady rise in costs will see its annual profits fall from £714m to £694m.

Marc Bolland, the Dutch chief executive, is expected to update shareholders on plans to spruce up its stores, as those with clearer signs and branding have been a modest success.

However, he is expected to warn his ambition to hit annual sales of £11.5bn within three years isn’t achievable. M&S (LSE: MKS.L - news) is likely to reports sales of just shy of £10bn, and analysts forecast a maintained 17p-per-share dividend.

Final results:

• Group sales up 2.0% at £9.9bn

• Total UK sales +1.5%: Food +3.9%; General Merchandise -0.9% (Clothing +0.2%, Home -10.0%)

• Like-for-like UK sales +0.3%: Food +2.1%; General Merchandise -1.8%;

• International sales +5.8%

• Multi-channel sales +18%

• Underlying profit before tax1 £705.9m (last year £714.3m)

• Underlying basic earnings per share1 34.9p (last year 34.8p)

• Full year dividend 17.0p per share (last year 17.0p)

• Net debt £1.86bn (last year £1.90bn)

Statutory results:

• Profit before tax £658.0m (last year £780.6m)

• Basic earnings per share 32.5p (last year 38.8p)




http://www.moneyam.com/action/news/showArticle?id=4373677

Marks and Spencer to launch bank

High Street retailer Marks and Spencer has said it will launch an in-store banking service this summer, backed by HSBC.

The first branch is set to open in July at the chain's flagship store at Marble Arch in London.

It then plans to open 50 more branches in M&S stores over the next two years, creating 500 jobs.

M&S said it would start offering a current account from autumn 2012, with mortgages available "at a later date".