FTSE 100: 7742.84 ▼ -13.09 (-0.17%)
3 of 6
|No. of shares out||1,625m|
|No. of shares floating||1,598m|
|No. of common shareholders||not stated|
|No. of employees||85209|
|Trading volume (10 day avg.)||8m|
|Profit before tax||£1,269m|
|Earnings per share||7.18p|
|Cashflow per share||42.54p|
|Cash per share||29.73p|
High street stalwart Marks & Spencer (MKS) saw sales fall in the third quarter and Hargreaves Lansdown believes the turnaround plan may be too late to help.
The company reported UK like-for-like sales fell 1.4% in the third quarter, news that pushed the shares 6.7% lower to 302.3p yesterday.
Analyst Laith Khalaf said the figures were ‘disappointing’ especially in its food division, and online, which had been the ‘bright light of the M&S empire’.
He added that online sales growth looked ‘pretty feeble when compared to the wider market’.
‘It’s still early days in the M&S turnaround plan, however the risk is by the time M&S gets up to speed, the rest of the pack might have disappeared out of sight,’ he said.