Marks & Spencer Group PLC

Marks and Spencer Group is the holding company of the Marks & Spencer Group of companies. As a retailer, Co. provided its own-brand food, clothing and home products in its 1,433 stores worldwide and online as of Apr 1 2017. As of the same date, Co. sold food through 942 U.K. stores, including 253 owned and 383 franchise Simply Food stores; and own-brand clothing and homeware through 343 full-line stores, Outlets and its M&S.com website. Co. focuses on contemporary style and wardrobe essentials, and provides Womenswear, Lingerie and Menswear. Co. exports M&S Clothing & Home and Food around the world, with stores across Europe, Asia and the Middle East.
  • TickerMKS
  • ISINGB0031274896
  • ExchangeLondon Stock Exchange
  • SectorGeneral Retailers
  • CountryUnited Kingdom

Analysts

Expert Corporate Governance Service (ECGS)

Marks and Spencer, 09 July 2019

Item 2: Approve the Remuneration ReportThe structure is unsatisfactory as the maximum bonus exceeds guidelines, qualitative criteria exceed guidelines, accelerated vesting is possible, and benefits were excessive. However, the salary is not excessive in comparison and total remuneration was not excessive as no bonus was paid for the year. On balance, we recommend that shareholders approve this resolution. Item 2: Declare a dividendShareholders may wish to note that, on 27 February 2019, the Company amended its dividend policy to reduce the dividend per share by 40% to a sustainable level, whi...

Ioannis Pontikis

Morningstar | Intense Competition Exposes M&S’ Lack of a Moat; Turnaround Will Be Long and Uncertain. See Updated Analyst Note from 26 Jun 2019

We initiate coverage of Marks & Spencer, the British multichannel retailer with stores across Europe, Asia, and the Middle East, with a GBX 229 fair value estimate, no-moat and negative trend ratings. Our estimate implies a forward fiscal 2021 price/adjusted earnings ratio of 14 times and enterprise value/EBITDA ratio of 6 times, broadly in line with our United Kingdom grocery market coverage. Years of underperformance, underpinned by a fiercely competitive U.K. retail marketplace with price-led discounters and online retailers being the obvious winners, have radically changed the status quo ...

Ioannis Pontikis

Morningstar | Intense Competition Exposes M&S’ Lack of a Moat; Turnaround Will be Long and Uncertain

We initiate coverage of Marks & Spencer, the British multichannel retailer with stores across Europe, Asia, and the Middle East, with a GBX 229 fair value estimate, no-moat and negative trend ratings. Our estimate implies a forward fiscal 2021 price/adjusted earnings ratio of 14 times and enterprise value/EBITDA ratio of 6 times, broadly in line with our United Kingdom grocery market coverage. Years of underperformance, underpinned by a fiercely competitive U.K. retail marketplace with price-led discounters and online retailers being the obvious winners, have radically changed the status quo ...

Ioannis Pontikis

Intense Competition Exposes M&S’ Lack of a Moat; Turnaround Will be Long and Uncertain

We initiate coverage of Marks & Spencer, the British multichannel retailer with stores across Europe, Asia, and the Middle East, with a GBX 229 fair value estimate, no-moat and negative trend ratings. Our estimate implies a forward fiscal 2021 price/adjusted earnings ratio of 14 times and enterprise value/EBITDA ratio of 6 times broadly in line with our United Kingdom grocery coverage. Years of underperformance, underpinned by a fiercely competitive U.K. retail marketplace with price-led dis...

1 director maiden bought

A director at Marks & Spencer Group maiden bought 22,500 shares at 220p and the significance rating of the trade was 56/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The nam...

Ioannis Pontikis

Morningstar | Intense Competition Exposes M&S’ Lack of a Moat; Turnaround Will Be Long and Uncertain. See Updated Analyst Note from 26 Jun 2019

We initiate coverage of Marks & Spencer, the British multichannel retailer with stores across Europe, Asia, and the Middle East, with a GBX 229 fair value estimate, no-moat and negative trend ratings. Our estimate implies a forward fiscal 2021 price/adjusted earnings ratio of 14 times and enterprise value/EBITDA ratio of 6 times, broadly in line with our United Kingdom grocery market coverage. Years of underperformance, underpinned by a fiercely competitive U.K. retail marketplace with price-led discounters and online retailers being the obvious winners, have radically changed the status quo ...

Ioannis Pontikis

Morningstar | Intense Competition Exposes M&S’ Lack of a Moat; Turnaround Will be Long and Uncertain

We initiate coverage of Marks & Spencer, the British multichannel retailer with stores across Europe, Asia, and the Middle East, with a GBX 229 fair value estimate, no-moat and negative trend ratings. Our estimate implies a forward fiscal 2021 price/adjusted earnings ratio of 14 times and enterprise value/EBITDA ratio of 6 times, broadly in line with our United Kingdom grocery market coverage. Years of underperformance, underpinned by a fiercely competitive U.K. retail marketplace with price-led discounters and online retailers being the obvious winners, have radically changed the status quo ...

Ioannis Pontikis

Intense Competition Exposes M&S’ Lack of a Moat; Turnaround Will be Long and Uncertain

We initiate coverage of Marks & Spencer, the British multichannel retailer with stores across Europe, Asia, and the Middle East, with a GBX 229 fair value estimate, no-moat and negative trend ratings. Our estimate implies a forward fiscal 2021 price/adjusted earnings ratio of 14 times and enterprise value/EBITDA ratio of 6 times broadly in line with our United Kingdom grocery coverage. Years of underperformance, underpinned by a fiercely competitive U.K. retail marketplace with price-led dis...

Ng Adrian

Marks and Spencer Group

Ng Adrian

Marks and Spencer Group

1 director maiden bought

A director at Marks & Spencer Group maiden bought 22,500 shares at 220p and the significance rating of the trade was 56/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The nam...

Ng Adrian

Marks and Spencer Group

MARKS & SPENCER GP.PLC. with less fundamental stars is reduced to Neutral

MARKS & SPENCER GP.PLC. (GB), a company active in the Broadline Retailers industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 2 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date February 15, 2019, the closing price was GBp 285.50 and its expected value was estimat...

Ng Adrian

Marks and Spencer Group

Ng Adrian

Marks and Spencer Group

Ng Adrian

Marks and Spencer Group

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Expert Corporate Governance Service (ECGS)

Marks and Spencer, 09 July 2019

Item 2: Approve the Remuneration ReportThe structure is unsatisfactory as the maximum bonus exceeds guidelines, qualitative criteria exceed guidelines, accelerated vesting is possible, and benefits were excessive. However, the salary is not excessive in comparison and total remuneration was not excessive as no bonus was paid for the year. On balance, we recommend that shareholders approve this resolution. Item 2: Declare a dividendShareholders may wish to note that, on 27 February 2019, the Company amended its dividend policy to reduce the dividend per share by 40% to a sustainable level, whi...

Marks and Spencer – Proxinvest Corporate Governance Rating ® : A

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

PROXY REPORT 10/07/2018

Leadership Changes Robert Swannell stepped down as Chairman and Archie Norman was appointed Chairman on September 1, 2017. On March 31, 2018, Helen Weir, former Finance Director, and Patrick Bousquet-Chavanne, former executive director, resigned from the board. Their resignations are related with corporate restructuring. Humphrey Singer was appointed the new CFO in April 2018. Item 2: Advisory vote on the Remuneration Report The structure is weighted more towards rewarding long-term performance and the quantum is not excessive. Qualitative criteria for the STI exceed guidelines and make it ...

Expert Corporate Governance Service (ECGS)

Etude l' AG du 11/07/2017

Item 2: Approve the Remuneration Report. Total variable remuneration exceeds 300% of base salary, but only barely at 301%. Variable remuneration for the year is not considered excessive.  The structure is weighted more towards rewarding long-term performance, though alignment with performance is not clearly demonstrated and the qualitative portion of the bonus exceeds guidelines.   Item 3: Approve the Remuneration Policy. The changes proposed to the Remuneration Policy generally strengthen the alignment between pay and performance.  However, the remuneration committee continues to have substan...

Matthieu DRIOL

Short term view - MARKS & SPENCER PLC : The background trend is clearly bullish.

The background trend is clearly bullish. Prices are still making progress. The following targets are at 315.70 p and 333.60 p. The trend would be invalidated below the support at 283.90 p.

Matthieu DRIOL

Analyse court terme - MARKS & SPENCER PLC : La tendance de fond est clairement orientée à la hausse.

La tendance de fond est clairement orientée à la hausse. Les cours progressent toujours. Les objectifs suivants sont à 315,70 p et 333,60 p. La tendance serait invalidée sous le support à 283,90 p.

Matthieu DRIOL

Short term view - MARKS & SPENCER PLC : The background trend is clearly bullish.

The background trend is clearly bullish. Prices are still making progress. The following targets are at 315.70 p and 333.60 p. The trend would be invalidated below the support at 283.90 p.

Matthieu DRIOL

Analyse court terme - MARKS & SPENCER PLC : La tendance de fond est clairement orientée à la hausse.

La tendance de fond est clairement orientée à la hausse. Les cours progressent toujours. Les objectifs suivants sont à 315,70 p et 333,60 p. La tendance serait invalidée sous le support à 283,90 p.

Matthieu DRIOL

Analyse moyen terme - MARKS & SPENCER PLC : Le mouvement se poursuit.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 274,25 p, puis 251,62 p. Le franchissement de 333,57 p remettrait en cause la suite de la baisse.

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