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    MKS   GB0031274896

MARKS AND SPENCER GROUP PLC

(MKS)
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Delayed London Stock Exchange  -  05/20 11:37:13 am EDT
135.70 GBX   +1.57%
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M&S says inflationary pressure building in clothing, homeware

01/13/2022 | 04:34am EDT
Entrance to a Marks and Spencer store is pictured at the Oxford Street, in London

LONDON (Reuters) - Marks & Spencer said there were inflationary pressures in both food and clothing, but it was working with its suppliers to mitigate as much impact for customers as possible.

Chief Financial Officer Eoin Tonge said inflation in the food market in the 12 weeks to December was 2.7%, rising to 3.5% in December. "In those 12 weeks, we were behind the market," he said.

In clothing & home, he said consumers were not seeing price rises at the moment, but pressure in costs for freight and raw materials was building.

"There is an expectation that there will be a similar level of inflation in clothing as well, but that will only start to come in the coming months," he said.

He said M&S had worked with its suppliers to improve its value proposition but it was "inevitable" that some of the inflation coming into the marketplace would be passed on.

(Reporting by Paul Sandle; editing by James Davey)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
MARKS AND SPENCER GROUP PLC 1.57% 135.7 Delayed Quote.-40.84%
ON SEMICONDUCTOR CORPORATION 0.70% 56.46 Delayed Quote.-16.87%
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Analyst Recommendations on MARKS AND SPENCER GROUP PLC
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Financials
Sales 2022 10 837 M 13 509 M 13 509 M
Net income 2022 352 M 438 M 438 M
Net Debt 2022 2 933 M 3 656 M 3 656 M
P/E ratio 2022 7,95x
Yield 2022 0,14%
Capitalization 2 681 M 3 342 M 3 342 M
EV / Sales 2022 0,52x
EV / Sales 2023 0,49x
Nbr of Employees 69 577
Free-Float 99,6%
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Technical analysis trends MARKS AND SPENCER GROUP PLC
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 136,90 GBX
Average target price 212,14 GBX
Spread / Average Target 55,0%
EPS Revisions
Managers and Directors
Steve Rowe Chief Executive Officer & Executive Director
Eoin Philip Tonge Chief Financial Officer & Executive Director
Archibald John Norman Chairman
Carl Dawson Director-Information Technology
Sacha Berendji Director-Retail, Operations & Property
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