Analysts are undecided on whether Stuart Rose’s announcement yesterday has done enough to lift shares in Marks & Spencer to above 400p.
At a meeting yesterday the company’s chief executive outlined his plans for the future of the retailer, which included buying the Per Una brand and ditching the Life Store concept as well as some of the Simply Food stores.
According to newspaper reports, Rose has also highlighted what he considers to be “problems with the food business, where M&S has too many duplicating products.”
Last night shares in the company fell 4p to 364p, and there is speculation as to whether shares can rise above 400p, which is the amount Philip Green stated in his recent bid for the company.