Marks & Spencer damps already sour retail sector
Article Abstract:
Marks and Spencer PLC, a retail chain based the UK, will not pursue its expansion plans in Europe as demand and sales declined in the global market. Marks & Spencer, which previously planned to operate a total 60 stores in Europe, announced that it will not pursue its plans just as yet but will retain its 42 store operations. Reportedly, the delay is part of its cost cutting strategies despite no apparent significant moves are being launched according to analysts. The company's share price dropped by two pence to 440 pence or $7.51 per share.
Comment:
Will not pursue its expansion plans in Europe as demand and sales declined in the global market
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Selfridges reports profit gain; CEO sees benefits of renovation
Article Abstract:
Selfridges PLC posted an improvement in its pretax profits for the first-half of 1999. The company, benefiting from a seven-year refurbishment of its London flagship store, posted 8.3 million pound sterling (12.8 million euros) in pretax profits for the six-month period ending on July 31, 1999. During the same period in 1998, Selfridges posted 1.9 million pound sterling in pretax profits.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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