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

skinny - is that the black hole which has just sucked in MKS and a bundle of other stocks?

It was a link to a Christmas trading update - unfortunately it was 12 months old!

440p gone, unless it bounces (not betting on it) next stop 420p.

LATEST BROKER VIEWS

Date Broker New target Recomm.
4 Jan Haitong... 550.00 Buy
22 Dec Nomura 565.00 Buy
21 Dec RBC Capital... 600.00 Outperform
18 Dec Haitong... 550.00 Buy
18 Dec Exane BNP... 580.00 Outperform
17 Dec Peel Hunt 400.00 Sell
15 Dec Investec 590.00 Buy
15 Dec Barclays... 500.00 Equal weight
14 Dec Deutsche Bank 580.00 Buy
14 Dec Nomura N/A Buy
Broker Recommendations for Marks & Spencer Group

Trading update 7th Jan may pay to wait but the sp will react one way or another before the market opens.
2517

Intraday low 413.05 bounced with Ftse back to test 440p new resistance? Doing nowt till update Thurs. Doing nowt with everything at mo spread bet wise anyway. A month away from any trading till direction clearer, confused from Aberdeen :0)

the whole of aberdeen is currently badly confused
i feel really sorry for all the small local traders who must be having a very tough time indeed

Indeed cynic.

i hear there is/was an ace artisan bakery in the middle of town that had been doing very well but is now struggling to stay afloat ....... a common story i fear

Certainly the price of oil is having a a major impact. WG. and PFC will survive but I fear for the smaller oil equipment and service companies struggling badly at mo.

*** MEDIA CALL AT 07.10 - FULL DETAILS IN NOTES TO EDITORS ***

Marks and Spencer Group plc announces that Marc Bolland intends to retire in 2016 to be succeeded by Steve Rowe

Marks and Spencer Group plc today announces that Marc Bolland has informed the Board that, after six years in the role, he wishes to retire as CEO in 2016.

Marc will be succeeded as CEO by Steve Rowe, Executive Director of General Merchandise. Marc Bolland will remain CEO and on the Board until the end of the current financial year on 2 April 2016 when he will hand over to Steve Rowe. Marc will then remain available to Steve and the Board to assist in the transition until 30 June 2016.

In reaching its conclusion to appoint Steve Rowe as the next CEO of Marks and Spencer Group plc, the Nominations Committee set a rigorous assessment, development and selection process, including external benchmarking. The Board is grateful to Marc for his planning, enabling the Nominations Committee to work carefully and systematically on his succession.

Steve Rowe has been with Marks and Spencer Group plc for over 25 years and been a Board Member since 2012. Before joining the Board, Steve worked in a range of senior positions across the business including Director of Retail and E-commerce and various positions in General Merchandise. In 2012 he was appointed by Marc Bolland to the Executive team as Executive Director, Food and was appointed to the Board of Marks and Spencer Group plc. In particularly difficult market conditions Steve led the Food business to produce 12 consecutive quarters of like for like growth, grow its margin and all its key performance metrics, continue its record of outstanding innovation and set out a path for further profitable growth. In July 2015, Steve Rowe was appointed Executive Director, General Merchandise with a mandate to improve the overall performance of that business, building on the improved design and sourcing capabilities.

Robert Swannell, Marks and Spencer Group plc Chairman, said "Over the last six years Marc Bolland has led Marks & Spencer through a period of necessary change. Over this time, the company has made significant investment in enhanced infrastructure and capabilities.

"It is now positioned for a digital age, with its own on-line platform and dedicated e-commerce distribution centre, improved design and sourcing capabilities in General Merchandise and an industry-leading track record of growth and innovation in the Food business. Marc has put Plan A at the heart of the business and leaves a strong sustainability legacy. The Board is very grateful to Marc for his leadership in this important period of enhancing Marks & Spencer's competitive position for its future.

"I am delighted that, after the most rigorous succession planning, Marc will be succeeded by Steve Rowe. Steve has a deep knowledge of Marks & Spencer and a proven track record of delivering results in key parts of the business. The Nomination Committee was unanimous in supporting Steve's appointment in the light of his considerable knowledge of the business and its people, his appetite to continue the process of change, particularly in General Merchandise, his perceptive and effective problem solving, his values and his observed leadership."

Marc Bolland said "It has been a huge honour to lead one of Britain's most iconic companies. I am delighted to handover to Steve Rowe as my successor. I have worked closely with Steve for six years and I am convinced that he will be a great leader for Marks & Spencer. I would like to thank all my colleagues and the Board at Marks & Spencer for being so supportive of the drive to prepare M&S for the future. I am proud to leave such a large group of talent behind in the business."

Steve Rowe said, "It is a great privilege to be appointed CEO of Marks & Spencer and to have the opportunity to lead this unique company and all its people forward."

Notes to Editors:

Media Conference Call:
This will be hosted by Marc Bolland, Chief Executive Officer at 07.10 on 7th January 2016:
Dial in number: +44 (0) 203 427 1909 Confirmation code: 4047703

A recording of this call will be available until 17th January 2016:
Dial in number: +44 (0)20 3427 0598 Pass code: 4047703

Remuneration:
Steve Rowe:
· From 2 April 2016, Steve Rowe will receive a salary of £810,000 on his appointment as Chief Executive Officer. The overall variable incentive opportunity for the Chief Executive role will remain unchanged. All other terms of Steve Rowe's existing service agreement, including pension allowance, will remain unchanged.

Marc Bolland:
· The following information is provided in accordance with section 430(2B) of the Companies Act 2006:

· Marc Bolland's remuneration terms will be in line with his service agreement and the key provisions for contract termination as per Marks and Spencer plc's Executive Remuneration Policy approved by shareholders in 2014.

· In line with Marc Bolland's service agreement, Marc Bolland will receive salary, benefits and pension benefits by way of phased monthly payments (subject to mitigation) up to the end of the notice period of 7 January 2017.

· Marc Bolland will remain eligible for consideration for payment of an annual bonus for 2015/16, subject to performance.

· Marc Bolland will not be eligible to participate in the Annual Bonus or Performance Share Plan awards for 2016/17.

· Any unvested nil-cost options awarded to Marc Bolland under the Deferred Share Bonus Plan will vest in full on termination and may then be exercised in accordance with the Plan rules.

· Any unvested nil-cost options awarded under the Performance Share Plan will be time pro-rated and will vest, subject to performance conditions on a wait and see basis at the normal vesting date and may then be exercised in accordance with the Plan rules.

Further details of the operation of the Deferred Share Award and Performance Share Plan are set out in the Directors' Remuneration Report in our Annual Report and Financial Statements 2015. Full disclosure of these remuneration arrangements will be provided in our Directors' Remuneration Report in 2016.

Q3 2015/16 TRADING STATEMENT

07 Jan 2016

Marks and Spencer Group Plc
Quarter 3 2015/16 Trading Statement
13 Weeks to 26 December 2015

‘Excellent Christmas in Food; GM sales down, gross margin up’

Update on key priorities:

Food sales – Best ever Christmas

An excellent quarter in a highly competitive market: sales +3.7%; +0.4% LFL
Strong outperformance of the market; record sales, +17% in the key Christmas week

General Merchandise gross margin up significantly

Continued improvement in sourcing and decision to hold back from heavy discounting
Margin guidance upgraded to the top end of the guided range of +200 to +250bps

General Merchandise sales disappointing

Sales -5.0%, LFL -5.8% due to unseasonal conditions and availability
M&S.com sales +20.9% driven by strong customer traffic

Strong cash generation

Operating costs guidance improved from c.+4.0% to c.+2.5%
Ongoing share buyback programme, £111m of shares bought to date

Marc Bolland, Chief Executive, said:
“M&S had an excellent Christmas in Food, delivering record Christmas sales and strongly outperforming the market. General Merchandise sales were disappointing. We continued to prioritise gross margin and held back from the heavy discounting seen across the market in the run up to Christmas. As a result we now expect GM gross margin to be at the top end of the guided range.
“I’d like to thank all our colleagues for their hard work and great service over the Christmas period.”

Trading summary
Our Food business had its best ever Christmas, significantly outperforming the market, with record sales over the festive period, up 17% in the key Christmas week. We have now delivered 25 consecutive quarters of LFL sales growth. Our differentiated products, market leading innovation and unrivalled quality made us the destination of choice for customers at this special time of year. We launched over 800 new products, including 400 unique seasonal lines.

In General Merchandise, we faced challenging trading conditions and fell short on availability. Unseasonal weather impacted sales across the clothing sector and resulted in unprecedented levels of promotional activity in the market, starting from Black Friday and intensifying through December. Against this backdrop we held back from the heavy discounting seen across the market especially in the run up to Christmas. While this had an adverse impact on sales we protected gross margin, which we now expect to come in at the top end of the guided range. However, we acknowledge there is more to do to address the disappointing GM sales, and the new team are focused on the three key priorities of availability, ranging and design.

M&S.com delivered a strong performance with continued improvement in traffic and customer experience. Our distribution centre in Castle Donington performed well dispatching record volumes while delivering a high level of customer service. We successfully launched our new loyalty members club, Sparks, with over 3.3m customers joining since the launch 11 weeks ago.

Our International business continued to face a challenging macro-economic environment, particularly across our Middle East franchise region. However, sales in our owned businesses improved with strong performance in key markets such as India.




Third quarter sales

13 weeks to
26 December 2015

Food
- Like-for-like

+3.7%
+0.4%

General Merchandise
- Like-for-like

-5.0%
-5.8%

M&S.com sales1

+20.9%

Total UK sales
- Like-for-like

-0.3%
-2.5%

International sales2

+2.9%

Group sales2

0.0%

My mistake was going long too early on the spreads. The trend as clearly indicated in the charts over the last ten years is MKS bombs at Xmas and rallies in January. Will this year be any different? We will see.

Must admit I never knew Mark Bolland was ex Morrisons, perhaps enough said. The replacement needs to be street wise, perhaps more like a market trader. The operation can still be turned round. Why not fill a third of the clothes space with a type of Primark operation. Just try something. Another exec walks away with his pocket lined.

LATEST BROKER VIEWS

Date Broker New target Recomm.
7 Jan Investec 570.00 Buy
7 Jan Haitong... 550.00 Buy
7 Jan Cantor... 420.00 Sell
7 Jan Peel Hunt 400.00 Sell
5 Jan Societe... 595.00 Buy
4 Jan Haitong... 550.00 Buy
22 Dec Nomura 565.00 Buy
21 Dec RBC Capital... 600.00 Outperform
18 Dec Haitong... 550.00 Buy
18 Dec Exane BNP... 580.00 Outperform
Broker Recommendations for Marks & Spencer Group

Proactive investor -Marc Bolland will reportedly trouser £10mln as he leaves Marks & Spencer (LON:MKS).

Success can be richly rewarded, but then so can failure.

Sadly true, dc.

LATEST BROKER VIEWS

Date Broker New target Recomm.
8 Jan Credit Suisse 450.00 Underperform
8 Jan Goldman Sachs N/A Sell
8 Jan Beaufort... N/A Hold
8 Jan Jefferies... 660.00 Buy
8 Jan Deutsche Bank 580.00 Buy
8 Jan JP Morgan... 550.00 Neutral
8 Jan Berenberg 380.00 Sell
7 Jan Investec 570.00 Buy
7 Jan Haitong... 550.00 Buy
7 Jan Cantor... 420.00 Sell
Broker Recommendations for Marks & Spencer Group