Marks & Spencer Group (MKS)

Sector:

Personal Goods

Index:

FTSE 100

254.50p
   
  • Change Today:
    -1.30p
  • 52 Week High: 290.50
  • 52 Week Low: 161.55
  • Currency: UK Pounds
  • Shares Issued: 2,046.08m
  • Volume: 4,593,037
  • Market Cap: £5,207m
  • RiskGrade: 211
  • Beta: 0.01

M&S wins court battle over Oxford St store demolition

By Frank Prenesti

Date: Friday 01 Mar 2024

LONDON (ShareCast) - (Sharecast News) - Marks & Spencer has come a step closer to demolish its main store on London's Oxford Street after the High Court ruled that a decision by government minister Michael Gove to block the plan was unlawful.
Gove who has jurisdiction over housing and communities last July refused permission to redevelop the store near Marble Arch in the capital. In response M&S, which had become increasingly vocal in response to the campaign to stop the destruction, started a legal challenge.

He said the plan would "fail to support the transition to a low-carbon future and would overall fail to encourage the reuse of existing resources, including the conversion of existing buildings", but judge Mrs Justice Lieven ruled he misapplied planning policy.

Gove also failed to justify why the new development would not cause wider harm to London's West End shopping district, despite M&S having stated it would leave the site if it could not redevelop the store.

The government still has the option to appeal against the ruling and the Department for Levelling Up, Housing and Communities said it was "considering our next steps".

Environmental campaigners opposed claimed the project would release 40,000 tonnes of carbon dioxide into the atmosphere, and said the building, built in 1929, should be renovated to modern standards.

Oxford Street was one a mecca for overseas shoppers but in recent years has lost its lustre as a visitor destination with the arrival of a plethora of fake chocolate and souvenir stores.

Reporting by Frank Prenesti for Sharecast.com

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Marks and spencer Market Data

Currency UK Pounds
Share Price 254.50p
Change Today -1.30p
% Change -0.51 %
52 Week High 290.50
52 Week Low 161.55
Volume 4,593,037
Shares Issued 2,046.08m
Market Cap £5,207m
Beta 0.01
RiskGrade 211

Marks and spencer Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
30.70% above the market average30.70% above the market average30.70% above the market average30.70% above the market average30.70% above the market average
53.85% above the sector average53.85% above the sector average53.85% above the sector average53.85% above the sector average53.85% above the sector average
Price Trend
87.11% above the market average87.11% above the market average87.11% above the market average87.11% above the market average87.11% above the market average
69.23% above the sector average69.23% above the sector average69.23% above the sector average69.23% above the sector average69.23% above the sector average
Income
51.57% below the market average51.57% below the market average51.57% below the market average51.57% below the market average51.57% below the market average
55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average
Growth
10.78% above the market average10.78% above the market average10.78% above the market average10.78% above the market average10.78% above the market average
38.46% above the sector average38.46% above the sector average38.46% above the sector average38.46% above the sector average38.46% above the sector average

What The Brokers Say

Strong Buy 6
Buy 6
Neutral 4
Sell 0
Strong Sell 0
Total 16
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Marks and spencer Dividends

  Latest Previous
  Interim Interim
Ex-Div 16-Nov-23 14-Nov-19
Paid 12-Jan-24 10-Jan-20
Amount 1.00p 3.90p

Trades for 01-May-2024

Time Volume / Share Price
16:20 0 @ 254.70p
16:20 1 @ 254.70p
16:20 1 @ 254.70p
16:20 0 @ 254.70p
15:26 1 @ 255.30p

Marks and spencer Key Personnel

Chair Archie Norman
CEO Stuart Machin

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