Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Marks & Spencer Group plc    MKS   GB0031274896

MARKS & SPENCER GROUP PLC

(MKS)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

Primark the star attraction as England's stores reopen after lockdown

share with twitter share with LinkedIn share with facebook
06/15/2020 | 12:33pm EDT
Coronavirus disease (COVID-19) outbreak in London

By James Davey

Long queues of shoppers snaked around stores in England on Monday, with discount fashion retailer Primark proving a particular draw as shops reopened their doors after 83 days of lockdown.

Queues formed from early morning outside several branches of Primark, which does not sell online so has not made a penny in the UK for months.

The chain reopened some of its stores early, including its biggest in Birmingham, to avoid overcrowding as hundreds of people lined up outside. At its Leeds store, the estimated afternoon wait time to get in was up to an hour.

There was also a big queue outside the Nike Town store on London's Oxford Street, the capital's busiest shopping street, with many shoppers ignoring social distancing rules.

Department stores, clothing retailers, electrical outlets, bookshops and other non-essential stores have been closed since March 23 when Prime Minister Boris Johnson imposed a lockdown to limit the spread of the coronavirus.

The reopening only applies to England, with stores in Scotland and Wales waiting for guidance from their devolved administrations on when they can resume trading. Non-essential stores in Northern Ireland reopened on Friday.

The UK government is encouraging people to go out and spend to help boost the economy, which shrank by a quarter over March and April.

The British Retail Consortium reckons the lockdown has cost non-food stores 1.8 billion pounds ($2.3 billion) a week in lost revenues.

"The government's priorities have always been lives first, but clearly restoring livelihoods, protecting jobs, making sure our economy can motor and recover again is really important," business minister Paul Scully told Sky News.

STORES LOOKING DIFFERENT

Retail footfall across England's retail destinations had increased by 41.7% up to 1100 GMT in comparison to last Monday, researcher Springboard said.

Stores look very different, though, as they must observe social distancing regulations. As well as having to queue outside as numbers inside are restricted, shoppers are greeted with hand sanitisers and there are limits on touching and trying out products.

Some chains are reopening all their English stores, while others are taking a phased approach.

Primark, owned by Associated British Foods, reopened all its 153 stores, while Marks & Spencer, which has traded online and kept its food halls open, reopened the majority of its clothing space.

Rival Next reopened 64 stores, having already reopened 64 homeware stores during the lockdown. John Lewis [JLPLC.UL] reopened just two outlets.

Many small independent stores, where it is difficult to implement safe social distancing practices, remained closed.

Sofie Willmott, an analyst at GlobalData, said that while the queues on high streets might look promising for retailers, there were tough times ahead.

"Footfall and spending will take a long time to return to pre-COVID levels," she added.

(Reporting by James Davey; Editing by Mark Potter and Pravin Char)

Stocks mentioned in the article
ChangeLast1st jan.
ASSOCIATED BRITISH FOODS PLC 0.23% 1999 Delayed Quote.-23.25%
FLAGSTAR BANCORP, INC. 1.80% 32.15 Delayed Quote.-15.95%
GLOBALDATA PLC -1.18% 1670 Delayed Quote.31.01%
MARKS & SPENCER GROUP PLC 1.37% 118.264 Delayed Quote.-45.32%
NEXT PLC 0.30% 6028 Delayed Quote.-14.25%
NIKE, INC. -0.28% 105.12 Delayed Quote.3.76%
share with twitter share with LinkedIn share with facebook
Latest news on MARKS & SPENCER GROUP PLC
06:58aMARKS & SPENCER : M&s accelerates food supply chain transformation with new dist..
PU
08/11UK retailer Debenhams sheds 2,500 jobs in latest blow to stores sector
RE
08/05MARKS & SPENCER : M&s offers a bigger and better range of delicious, great quali..
PU
07/29CREATING A STORE ESTATE FOR THE NEW : M&s opens major new store at nottingham g..
PU
07/28UK retail sales survey highest since April 2019, CBI says
RE
07/28UK retail sales survey highest since April 2019, CBI says
RE
07/28UK retail sales survey highest since April 2019, CBI says
RE
07/28UK department store Selfridges to cut 450 jobs due to pandemic hit
RE
07/27Pandemic turns Europe's retail sector on its head as shoppers stay close to h..
RE
07/27Pandemic turns Europe's retail sector on its head as shoppers stay close to h..
RE
More news
Financials
Sales 2021 9 160 M 11 922 M 11 922 M
Net income 2021 83,2 M 108 M 108 M
Net Debt 2021 3 317 M 4 317 M 4 317 M
P/E ratio 2021 24,4x
Yield 2021 0,88%
Capitalization 2 279 M 2 981 M 2 966 M
EV / Sales 2021 0,61x
EV / Sales 2022 0,54x
Nbr of Employees 75 505
Free-Float 99,5%
Chart MARKS & SPENCER GROUP PLC
Duration : Period :
Marks & Spencer Group plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MARKS & SPENCER GROUP PLC
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 128,00 GBX
Last Close Price 116,75 GBX
Spread / Highest target 47,3%
Spread / Average Target 9,64%
Spread / Lowest Target -14,3%
EPS Revisions
Managers
NameTitle
Steve Rowe Chief Executive Officer & Executive Director
Archie J. Norman Chairman
Eoin Philip Tonge Chief Financial Officer & Director
Carl Dawson Director-Information Technology
Andrew Nigel Halford Senior Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
MARKS & SPENCER GROUP PLC-45.32%2 981
TRACTOR SUPPLY COMPANY55.30%16 865
NEXT PLC-14.25%10 038
OLLIE'S BARGAIN OUTLET HOLDINGS, INC.58.86%6 749
JARIR MARKETING COMPANY-1.69%5 209
JUMBO S.A.-12.78%2 591