4 stories mentioning MKS.LUpdated 8d ago
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Morningstar on Monday upgraded British retailer Marks and Spencer Group (MKS.L) to buy from hold and raised its price target to 4.17 pounds sterling from 3.42 pounds.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
London's FTSE 100 closed 0.99% higher on Wednesday as investors digested a faster-than-expected decline in inflation and earnings updates from corporate heavyweights."The larger fall in CPI inflation than forecasters expected, from 3.3% yoy in March to 2.8% yoy in April (consensus and Berenberg: 3.0%) suggests that inflation would have dropped to within a hair's breadth of the Bank of England's (BoE's) 2% target without the Iran war," Berenberg said. "In the months ahead, the upward pressure on prices from the Iran war will spread from petrol and diesel to goods and food and likely lift inflation to over 3.5% in H2. Nonetheless, if the services prices that the BoE can influence most continue to behave, the central bank need not raise interest rates in response."Meanwhile, Wood Mackenzie's Horizons report said a prolonged shutdown of the Strait of Hormuz would represent the most significant threat to global energy markets in decades. "The Strait of Hormuz is the most critical chokepoint in global energy markets, and a prolonged closure would become far more than an energy crisis," said Peter Martin, head of economics at Wood Mackenzie.In corporate news, British retailer Marks and Spencer Group (MKS.L) rose 6.64% to top the blue-chip index after profit attributable to owners of the parent for fiscal 2026 declined to 259.4 million pounds sterling from 295.7 million pounds year over year, while revenue jumped to 17.27 billion pounds from 13.82 billion pounds earlier."M&S has released its FY26 results this morning with FY26 Food profits ahead of expectations, but Fashion, Home & Beauty below. We think Food is likely to have continued its momentum into FY27 so far, but store clothing sales have been somewhat weather impacted and are likely to be seeing a more volatile trend. As such we view the results as more of a positive read for the UK grocers and NEXT (online) than Primark," RBC Capital Markets said.On the flip side, Experian (EXPN.L) dropped 2.95% to become the worst performer on the FTSE 100 even as profit and revenue for fiscal 2026 increased year over year. The data and technology company also commenced a program to repurchase up to $1 billion of shares."FY26 demonstrated robust execution with 11% constant [currency] growth and 8% organic growth including 9% in Q4. Benchmark margins increased 60 [basis points] - ahead of the medium term framework and driving 13% constant fx EPS growth. Growth was stable across the quarters and broad based across geographies and verticals," BofA Global Research said.
Marks and Spencer Group (MKS.L) raised its full-year dividend by 16.7% and said it expects to return to profit growth in fiscal 2027 as its transformation program gains momentum.The British retailer said Wednesday that profit growth resumed in the second half of fiscal 2026 after a cyber incident weighed on its first-half performance. For the 52 weeks ended March 28, its attributable profit declined to 259.4 million pounds sterling from 295.7 million pounds a year earlier, while revenue climbed to 17.27 billion pounds from 13.82 billion pounds.The food division remained the company's strongest-performing segment, with sales rising 7% year over year. Sales in fashion, home and beauty declined 7.7%, while international sales slipped 7.2%.M&S said it expects profit growth to resume in fiscal 2027 as it accelerates investment and expands cost-cutting initiatives. Capital expenditure will increase to between 650 million pounds and 750 million pounds, two-thirds of which will be used to pursue long-term growth opportunities in the food business."Retailers face a triple whammy of headwinds with increased taxation, a greater regulatory burden and ongoing global conflict. At M&S we are unshaken by short-term events," the company said. "We have a clear plan and there is much within our control as we reinvest in value and quality for our customers."The retailer will pay a full-year dividend of 0.042 pound per share, up from the 0.036 pound per share paid previously.The company's stock was up more than 3% in early morning trading.
Norway-listed renewable biomethane supplier ReFuels (REFL.OL) agreed with Marks and Spencer Group (MKS.L) to provide mobile refueling stations at UK distribution centers.The long-term agreement, signed via CNG Fuels, will power the UK retailer's fleet of heavy goods vehicles, according to a Thursday release. ReFuels owns a 40% stake in CNG Fuels, which will own and operate the stations.Marks and Spencer aims to expand its lower-emission fleet to more than 300 vehicles by March 2027-end.
