M&S chairman Archie Norman bulks up his shares

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Marks & Spencer chairman Archie Norman buys more shares
M&S shares have been trading at their lowest level in several years.
// M&S chairman Archie Norman bolsters his stake in the retailer by buying more shares
// He bought approximately 55,000 M&S shares at around £100,000
// It comes after M&S lost its place in the FTSE 100 index this month

Marks & Spencer chairman Archie Norman has bolstered his stake in the bellwether retailer by buying £100,000 worth of additional shares.

Norman snapped up 55,000 M&S shares for the price tag of around £100,000, increasing his stake in the retailer to just below 150,000 shares.

This equates to a value of £270,000 at the time of print.

His acquisition of the additional shares comes after M&S was demoted from the FTSE 100 earlier this month.


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M&S have also been trading at their lowest level in several years.

Meanwhile, in the past week two key senior exits were announced – with chief financial officer Humphrey Singer and clothing & home supply chain director Gordon Mowat both exiting M&S.

Their exits follow M&S’s managing director Jill McDonald being ousted in July as the clothing and home division that she led had an underwhelming financial performance under her tenure.

M&S’s group chief executive Steve Rowe has since taken charge of the home and division department, but the retailer’s food division continues to be led by Stuart Machin.

On Tuesday, M&S is expected to reveal details about some of the steps being taken as part of its turnaround revival scheme, which is being led by Rowe and Norman.

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1 COMMENT

  1. If one compares this ‘investment’ to that of David Potts when he took over Morrison’s, it’s an underwhelming vote/purchase showing little confidence, in my view. Maybe a statement in the order of £1 million of share buying might make other shareholders think he knows what he’s doing? This is, in the time honoured phrase ‘A cup of tea and a doughnut’

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