Marks and Spencer share price rises on London Fashion Week debut

on Feb 18, 2014
Updated: Apr 9, 2020
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iNVEZZ.com, Tuesday, February 18: Shares in Marks and Spencer (LON:MKS) have been trading higher this week, after the UK clothing retailer made its debut at London Fashion Week over the weekend with an event that showcased its ‘Best of British’ collection for autumn 2014.

The range on display was designed in-house by the M&S design team and was described by the brand as a ‘true celebration of British craftsmanship and creativity’ and a ‘modern exploration of heritage sensibility’. M&S emphasized that the full collection is manufactured in Britain with selected fabrics sourced from British suppliers, including knitwear from Scotland, outerwear from Manchester and footwear from Northamptonshire. The retailer also revealed that it has extended its relationship with the British Fashion Council, becoming the lead-partner in the Positive Fashion initiative designed to ‘champion positive change’ in the fashion industry.

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The London Fashion Week debut comes as the brand attempts to turn around the image of its clothing and emulate the success other British retailers such as Burberry (LON:BRBY) have had at the clothing trade show.
In January, it emerged that M&S had suffered its third Christmas of declining clothing sales, as it reported like-for-like general merchandise sales dropped by 2.1 percent in the 13 weeks to December 28 (Marks and Spencer share price: Retailer posts lacklustre Q3 trading update).

**Website overhaul**
Marks and Spencer has taken a step towards achieving its multichannel ambitions with the re-launch of its website. The retailer overhauled its online presence in order to better appeal to consumers and reflect changing browsing and shopping habits. The new website, which goes live today, promises to be ‘brighter, bolder and better’ and full of ‘new ideas and inspiration’.

The website’s redesign, a product of two years of insight gained from testing with existing and potential customers, will be promoted by a social and email marketing campaign to highlight the changes to existing online customers. A major above the line campaign will follow later this year.
The overhaul follows M&S’s pledge to move away from Amazon’s platform in November 2010, a decision which it says provides “greater flexibility to respond quickly to emerging trends”.

The retailer hopes the changes will help lift clothing and homeware sales, which have been in decline for several consecutive quarters. It will also be expecting a further boost to online sales, which have been accelerating, rising 23 percent in the company’s latest quarter
(Marks and Spencer share price: Retailer posts lacklustre Q3 trading update).

**Marks and Spencer share price**
Marks and Spencer’s share price, which has recently been underpinned by a positive forecast from Exane BNP Paribas on the British retailer’s future profitability (Marks and Spencer share price buoyed by profit hopes), closed yesterday’s trading session at 494.40p, almost one percent up on the day.
As of 14:25 UTC today, the retailer’s stock was a further 0.32 percent higher at 496.00p.
According to AnalystRatingsNetwork data, six research analysts have a ‘sell’ rating on Marks and Spencer, eight have it as a ‘hold’ and 16 rate it as a ‘buy’. The stock’s average rating is ‘hold’ with a consensus price target of 489.70p.
**As of 14:14 UTC, buy Marks and Spencer shares at 495.90p.**
**As of 14:14 UTC, sell Marks and Spencer shares at 495.70p.**
Trade stocks with Hargreaves Lansdown from £5.95 per deal.
Prices can go up and down meaning you can get back less than you invest. This is not advice. Dealing services provided by Hargreaves Lansdown.

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