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Main shareholder JAB Holding seeks to shake up business after period of sustained share price underperformance
...Although the partnership with Ocado is yet to be profitable — suffering a first-half operating loss of £23.4mn — M&S believes it will move into the black, albeit it in three years....
...“We are operating from a position of strength . . . our organic strategy is working but we are open to M&A,” Anil said....
...M&S and John Lewis, they will have to run faster.” M&S cannot afford distractions....
...And while Waitrose stores have a tendency to look tired and understocked, M&S has lavishly refurbished its food halls....
...And here’s what I’m keeping tabs on today: Economic data: The Institute for Supply Management will release its monthly US manufacturing survey while S&P Global publishes its Mexico manufacturing survey....
...The two academics focused on the 20 M&A and regulatory assignments that S&C worked on for FTX, for which it earned just under $10mn in the months leading up to the exchange’s November 2022 bankruptcy filing...
...We couldn’t immediately see a change of control covenant in this Hudson Pacific Properties bond prospectus, nor this one from Piedmont Operating Partnership LP....
...Mining M&A only tends to generate large cost savings when the two companies’ operations are in close geographical proximity to one another....
...Waitrose is only slightly ahead of M&S in the grocery market, with a 3.6 per cent market share this month versus the latter’s 3.4 per cent, according to data provider NIQ....
...US chocolate group Hershey caused a stir when it brought basketball star Shaquille O’Neal on to the stage to announce a partnership for its gummy sweets....
...Sales at Greencore, which supplies packaged food products to almost every big supermarket chain including Tesco and M&S, have been buoyed by workers returning to offices following the pandemic....
...It’s great news for M&A in Japan.”...
...The battle for Middle England John Lewis and M&S are courting the same middle-class customers. They are having differing levels of success, the FT’s Laura Onita writes....
...Their research found that since the project was greenlighted in 2017 planning applications in a 1.5 mile radius of HS2’s new stations and depot in the West Midlands rose by 66 per cent compared with just...
...M&S announced that it was at the “early stages” of a “reset” plan for its partnership with online retailer Ocado, which registered a first-half operating loss of £23.4mn....
...Subscribers rose to a peak of 3.41mn in 2019’s accounts, but this figure was restated as just shy of 2mn in 2020’s accounts, and then as 1.1mn in 2021’s accounts....
...In the most dominant season by any driver in F1’s 74-year history, Verstappen has won more than 80 per cent of the races....
...Tata’s joint venture with American group Sikorsky has been delivering “indigenous” cabins for the S-92 helicopter and associated parts to Lockheed Martin in the US....
...I’m excited about Ian McKellan’s appearance as Falstaff, a role he has never previously played, in Player Kings at Manchester Opera House next month....
...Up to 18mn doses of the RTS, S vaccine are being distributed by Gavi, followed by an estimated 10mn doses of the R21/Matrix-M jab across seven countries in mid-2024....
...“I’m determined to leave the partnership not just in a more financially secure place but also where we can be more relaxed about ourselves, more confident, a beacon of what a business can and should be,”...
...During that time, the S&P 500 is up about 150 per cent....
...“I remember being told to go to M&S to buy lunch for a big client meeting, and returning with loads of bread and butter to make sandwiches....
...“I’m used to this kind of speculation . . . but it makes no sense as we could have sold the group directly to LVMH if that’s what we wanted,” he said....
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