UK: M&S PLANS FINANCIAL ADVICE CENTRES

Article Abstract:

The UK department store group, Marks & Spencer (M&S), has unveiled plans to open financial advice centres in as many as 30 of its stores. The move to attract more people to the financial services division of the retailer will also be supported by an advertising campaign encouraging people to transfer their banking needs to M&S. The new strategy is aimed at raising brand awareness for Marks & Spencer Financial Services. Centres will be operational in 10 stores by the end of 2000.

Commercial Banks, Commercial Banking, Retail Banking Services, Marketing procedures, Services introduction, New Products/Services, Banking industry, Retail banking, Services, Brief Article

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UK: STOREHOUSE SELLS BHS TO PHILIP GREEN

Article Abstract:

Storehouse, the UK based retail group, has announced that it is to sell its Bhs chain to the retail entrepreneur Philip Green. The GB[pound] 200mn sale will enable Storehouse to return some GB[pound] 100mn to its shareholders and to focus on its Mothercare chain. The deal will provide Mr Green with some 161 stores across the UK, which he is confident that he will be able to turn-around from a GB[pound] 8.3mn loss in the six months to October 1999.

Asset sales & divestitures, Mergers, acquisitions and divestments, BhS PLC, Storehouse Inc.

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UK: SHAREHOLDER PRESSURE FOR MARKS & SPENCER

Article Abstract:

The share value of UK retail chain Marks & Spencer (M&S) is likely to come under future pressure following the decision by Tina Green, the wife of retail entrepreneur Philip Green, to sell all her shares in the company. Mr Green withdrew from an acquisition bid for M&S in February. Meanwhile, rumours that chief executive Peter Salsbury could be asked to leave have been denied by chairman Luc Vandevelde.

Financial analysis, Finance

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