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

cut my losses as bear squeeze gets a good grip

however
Cantor Fitzgerald cuts target price to 410p from 425p

with that in mind, selling again in due course might still be a good call .... after all, the numbers really were pretty dire

M&S Q3 clothing lfl sales down 2.1 pct, food up 1.6 pct - Tesco, Marks & Spencer and Morrisons, three of the biggest names in British retailing, posted heavy falls in Christmas sales, showing few signs that their costly turnaround plans are working, and raising the pressure on their leaders.
"All three reports today were pretty nasty - Morrisons especially so," said a UK investor with shares in all the retailers.

M&S, Britain's biggest clothing retailer which started out as a penny bazaar 130 years ago, reported a 10th consecutive quarter of falling clothing sales and cut its margin guidance after fierce discounting by rivals forced it to slash prices in December. Its sales of general merchandise - which spans clothing, footwear and homewares - fell 2.1 percent in its third quarter to Dec. 28 at stores which have been open for more than a year. This drop was greater than analysts' forecasts and the firm avoided having to issue a formal profit warning only by delivering a strong performance in its food business.

=====================

so the obvious question is whether or not today's sharp sp recovery is mostly bear closing, forced or otherwise, and if so, will the sp collapse once more

read into the chart below what you like ..... sp has surged back through 25+200 dma but is now just nudging 50 dma above

Perversely it now looks bullish - remind me not to trade the retailers next January!

sticky/shortie - any thoughts?

Numis Hold 471.10 - 450.00 Retains

Investec Buy 471.10 500.00 500.00 Upgrades

smartarse or about-to-be-smarting-arse?
just shorted at 469.9

HSBC Overweight 465.75 460.90 500.00 500.00 Reiterates

Citigroup Buy 465.75 460.90 510.00 510.00 Reiterates

Deutsche Bank Hold 465.75 460.90 500.00 485.00 Retains

Jefferies International Hold 465.75 460.90 480.00 480.00 Reiterates

closed with minor graze .... should have done so last night with respectable profit :-)

Jefferies International Buy 496.30 496.30 480.00 600.00 Upgrades

Looks like MKS as found support and rising from a double bottom pattern. SP targets are resistance lines to be taken out on the chart. The oscillators are looking very bullish.

The company reports on the 10th of April a Trading Statement.

Broker Charles Stanley Morning Note..........

Marks & Spencer (MKS: 469.5p) has managed to put on a short 4% over the last couple of
sessions (on decent volumes) and this is worth highlighting since it coincides with a
successful test of the uptrend that began just over a year ago. The fact that this reversal
coincides with the appearance of bullish divergence on the 14-day RSI seems to suggest that
there could be scope for yet more upside in the short to medium term, with 480p or so as the
next target.

Marks and Spencer Group Plc Given “Buy” Rating at Jefferies Group (MKS)
Posted by Alphonse Anthony on Apr 3rd, 2014

Marks and Spencer Group Plc logoJefferies Group reaffirmed their buy rating on shares of Marks and Spencer Group Plc (LON:MKS) in a report issued on Wednesday, Analyst Ratings.Net reports. They currently have a GBX 600 ($9.98) target price on the stock.
Jefferies Group has also updated their ratings on a number of other stocks in the last week. The firm lowered its price target on shares of Ceragon Networks Ltd. from $3.50 to $3.40. Also, Jefferies Group raised its price target on shares of Amarin Co. plc from $3.00 to $3.50. Finally, Jefferies Group upgraded shares of CNOOC from a hold rating to a buy rating.
Marks and Spencer Group Plc (LON:MKS) traded up 0.36% during mid-day trading on Wednesday, hitting GBX 471.60. The stock had a trading volume of 5,786,886 shares. Marks and Spencer Group Plc has a 52-week low of GBX 368.00 and a 52-week high of GBX 520.50. The stock has a 50-day moving average of GBX 481.4 and a 200-day moving average of GBX 478.. The company’s market cap is £7.592 billion.


MKS has been the subject of a number of other recent research reports. Analysts at Santander reiterated a hold rating on shares of Marks and Spencer Group Plc in a research note on Friday, March 28th. They now have a GBX 460 ($7.65) price target on the stock. Separately, analysts at Sanford C. Bernstein reiterated an underperform rating on shares of Marks and Spencer Group Plc in a research note on Monday, March 24th. They now have a GBX 400 ($6.66) price target on the stock. Finally, analysts at Citigroup Inc. reiterated a buy rating on shares of Marks and Spencer Group Plc in a research note on Wednesday, March 19th. They now have a GBX 510 ($8.49) price target on the stock. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seventeen have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of GBX 496.61 ($8.26).
Marks and Spencer Group plc is a United Kingdom retailer. The Company is the holding company of the Marks & Spencer Group of companies.

Marks & Spencer Group PLC (MKS)23:39 ET Apr 03, 2014
Close

Chief Pulse Comment by Marc J Bolland

However, M&S's desire for international expansion with a focus on opening 250 new stores, growing its food business and increasing its franchise operations is well known, and its chief executive outlined yesterday how the company will concentrate on growing international revenues by 25% and international profits by 40%. "Our strategy of becoming an international, multi channel retailer is more relevant than ever before because of the strong growth potential of international markets," said Marc Bolland, M&S chief executive, adding that the retailer will seek a local partner to further expand in China. . "When we started in China we said we wanted to establish strong flagship stores. We have done that

Thursday's Agenda: UK High Street under the spotlight with trading updates
By Giles Gwinnett
April 09 2014, 6:30pm


Thursday will see a trading statement from High Street bellwether Marks & Spencer (LON:MKS), sure to be keenly scrutinised.

The announcement will cover the fourth quarter trading and the retailer is expected to report a fall in like-for-likes sales in clothing and flat food sales, but that its revamp is on track.

It recently held an investor event in Paris showcase its international business.

British retailers have, at best, a patchy record when it comes to overseas expansion, but the scribblers at City broker Jefferies were relatively impressed by the event.

The broker said: "What we saw and heard was encouraging; however, we were already forecasting 40% international profit growth to FY17 and thus UK profits (83% of group) remain key."

Full year results for the company will be issued in May.

Trading Statement

QUARTER 4 2013/14 TRADING STATEMENT
13 WEEKS TO 29 MARCH 2014

'Improved Performance In Clothing'


· Group sales1 +1.9%
· UK: total sales +1.5%, like-for-like -0.2%
· Food2: total sales +2.5%, like-for-like +0.1%
· GM: total sales +0.2%, like-for-like -0.6%
· Clothing: total sales +1.3%, like-for-like +0.6%
· M&S.com +12.5%
· International sales1 +4.7%

those who were brave enough to go long will assuredly be well rewarded, no doubt enhanced by a bear squeeze too

Marks and Spencer Group Plc Rating Reiterated by N+1 Singer (MKS)
Posted by Wayne Rhoads on Apr 10th, 2014

Marks and Spencer Group Plc logoMarks and Spencer Group Plc (LON:MKS)‘s stock had its “buy” rating reiterated by research analysts at N+1 Singer in a report released on Thursday, AmericanBankingNews.com reports. They currently have a GBX 560 ($9.28) price target on the stock. N+1 Singer’s price target suggests a potential upside of 22.81% from the company’s current price.
Marks and Spencer Group Plc (LON:MKS) opened at 465.10 on Thursday. Marks and Spencer Group Plc has a 52 week low of GBX 359.20 and a 52 week high of GBX 520.50. The stock has a 50-day moving average of GBX 479.5 and a 200-day moving average of GBX 478.5. The company’s market cap is £7.487 billion.
Other equities research analysts have also recently issued reports about the stock. Analysts at Nplus1 Brewin reiterated a “buy” rating on shares of Marks and Spencer Group Plc in a research note on Thursday. They now have a GBX 560 ($9.28) price target on the stock. Separately, analysts at Societe Generale reiterated a “buy” rating on shares of Marks and Spencer Group Plc in a research note on Tuesday. They now have a GBX 609 ($10.10) price target on the stock. Finally, analysts at Nomura reiterated a “buy” rating on shares of Marks and Spencer Group Plc in a research note on Monday. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and seventeen have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of GBX 491.40 ($8.15).
Marks and Spencer Group plc is a United Kingdom retailer. The Company is the holding company of the Marks & Spencer Group of companies.

Final Results

Full year results:
• Group sales up 2.7%1 at £10.3bn
• Total UK sales +2.3%: Food +4.2%; General Merchandise 0.0%
• Like-for-like UK sales +0.2%: Food +1.7%; General Merchandise -1.4%
• International sales +6.2%1
• Multi-channel sales +22.8%

• Underlying profit before tax2 -3.9%3 to £623m
• Statutory profit before tax +6.1%3 to £580m
• Underlying basic earnings per share2 +0.9%3 to 32.2p
• Basic earnings per share +14.8%3 to 32.5p
• Full year dividend 17.0p per share level on the year
• Net debt down £150.7m to £2.46bn

LONDON, May 20 (Reuters) - British retailer Marks & Spencer warned its new website would dent first-quarter sales figures, but held out the prospect of cash returns to investors as a more efficient supply chain boosts profitability after three years of decline. M&S MKS.L shares fell as much as 3.8 percent on Tuesday after it said the website would take up to six months to "settle in" after launching in February, hitting general merchandise sales in the three months to the end of June. Britain's biggest clothing retailer, which also sells homewares and upmarket food, said no one in the company would receive a bonus payment this year as performance targets had not been met. The last time M&S did not pay any bonus was 2008-09. "Nothing's gone wrong," Chief Financial Officer Alan Stewart told reporters when asked about the new website, a pillar of M&S's intended transformation into an international retailer reaching customers through stores, the web and mobile devices. "It will take four to six months to settle down... We've seen others in the market who've taken longer. But it's what we expected to see," said Stewart, pointing out that 2.5 million customers had registered on the new website, including 700,000 new customers. Some analysts were sceptical. "We understand that the declines here have been material and we are not sure that this is just a natural settling down process or something more," said Espirito Santo analyst Tony Shiret, who has a "neutral" rating on M&S shares. The company said better clothing sales evident in its fourth quarter had continued in its stores in its new financial year, while the food business continued to outperform the market. ID:nL6N0N215S M&S is trying to shake off a reputation for functional but dull clothes, with its new strategy focusing on higher quality and more fashionable styles that satisfy its core customers aged 45 and over while also appealing to younger shoppers. CEO Marc Bolland has spent 2.3 billion pounds ($3.9 billion) in the last three years pushing through the changes to address decades of under-investment, overseeing the redesign of products and stores and an overhaul of logistics to serve the new website. But a new clothing team he set up in 2012 has so far failed to deliver a durable pick-up in sales and, for the first time, M&S earned less in the year to the end of March than its faster growing rival Next NXT.L . ID:nL6N0MH1CS Full-year sales of 10.3 billion pounds - up 2.7 percent from a year earlier - were well below a revised target Bolland set in 2012 of 10.8-11.5 billion pounds. "They're telling the right story in terms of spending coming down and return of cash to shareholders, but the underlying trading is no great shakes," said one M&S shareholder. The general merchandise division has posted eleven consecutive quarters of underlying sales declines. Profits have been propped up by 18 straight quarters of growth at M&S food. EXCESS CASH M&S said its general merchandise gross margin would grow by about 100 basis points in 2014-15 due to a more efficient supply chain, while its food gross margin was expected to grow by 10-30 basis points as a result of further operational efficiencies. It forecast a "significant" improvement in the general merchandise gross margin in the following two years and a further "step up" beyond that as the benefit of heavy investment in logistics flows through. That investment will not, however, include a new distribution centre at the Thames Gateway, east of London, which is no longer going ahead, saving M&S 130 million pounds. Capital spending would fall from 710 million pounds in 2013-14 to 500-550 million pounds in each of the next three years. "This gives potential for any excess cash to be returned to shareholders on a regular basis," said Bolland. M&S held its dividend at 17 pence and said it was committed to maintaining a progressive dividend policy with dividends broadly twice covered by earnings. "We expected firmer indications on capital repatriation, (and) a better general merchandise gross margin recovery than now indicated," said Shiret, maintaining a "neutral" rating on the stock. M&S made an underlying pretax profit of 623 million pounds in the year to March 29, down 3.9 percent from 2012-13 but ahead of an analyst consensus forecast of 615 million pounds. M&S shares were down 4.5 pence at 445.5 pence at 1427 GMT. May marks a decade since retail tycoon Philip Green proposed to pay 400 pence a share, or 9.1 billion pounds, for the retailer, which made a profit of 763 million pounds in 2003-4. M&S says comparing Green's proposal with the current share price is unfair given 10 years of dividend payments, a 2004 tender offer and a 2007-08 share buyback. However, Green's camp argues that, in real terms, M&S's share price is below where it was in 2004.