The last time I wrote about the shares of Marks and Spencer (MKS) was just before the world of Covid-19 kicked in globally. Back then I concluded that “at least the incoming Marks & Spencer CFO knows how to admit a wrong strategy”, and over the last 27 months or so M&S shares have gone down and up. This morning’s rise, after full year numbers publication, of about 11% has taken the shares back to the level of just over 180p of when I last wrote about them. Is the turnaround actually working?
Online bathroom retailer Victorian Plumbing (VIC) has announced that it “has maintained the strong start to the financial year and the group has delivered 10% revenue growth year to date, combined with an improvement in gross margin and marketing spend efficiency versus the comparative period last year”. So what of a share price currently up to 87p?
Fishing retailer Angling Direct (ANG) states that it is “pleased with the progress achieved… trading has been in line with the board's expectations”. So what of a share price currently back up above 30p, but comparing to above 50p a year ago?