{"id":60986,"title":"Marks & Spencer faces axe from FTSE 100","publisher":"Share Talk","author":"sharetalk","published":"2019-08-28T16:32:24+00:00","modified":"2019-08-28T16:32:24+00:00","canonical_url":"https://www.share-talk.com/marks-spencer-faces-axe-from-ftse-100/","markdown_url":"https://www.share-talk.com/marks-spencer-faces-axe-from-ftse-100.md","json_url":"https://www.share-talk.com/marks-spencer-faces-axe-from-ftse-100.json","category":"Property & Retail","categories":["Property & Retail"],"tags":["JD Sports","M&S","Marks & Spencer"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1","format":"news","language":"en-GB","content":"Marks & Spencer has one week to salvage its spot in the FTSE 100 as it faces a potential relegation from the top flight of blue-chip firms.\n\nBy [Sahar Nazir](https://www.retailgazette.co.uk/blog/author/sahar/)\n\nThe bellweather retailer is one of the few companies to have had a place in the index since it was first launched in 1984.\n\nCity watchers said its relegation after 35 years at top table would be a “historic” moment as well as an illustration of the UK high street’s doom and gloom.\n\nM&S narrowly avoided relegation in June, but its stock has fallen further since, losing two-thirds of its value since 2015.\n\nMeanwhile, JD Sports simultaneously made a debut after its global expansion and rising profits resulted in a surge in its share price.\n\nAt the time, it was thought that M&S managed to avoid relegation after a £601 million investor cash call following a rights issue.\n\nCompanies that are dropped out of the FTSE 100 can suffer a “double whammy” as funds invested only in blue-chip stocks automatically sell their shares.\n\nMeanwhile, other retailers battling for a future in the FTSE 100 include B&Q owner Kingfisher, Sainsbury’s, and Morrisons.\n\nStock market reshuffles take place every three months and the next will be based on share prices at the close of business on September 3.\n\nM&S has a market value of less than £3.7 billion, putting it at the bottom of the FTSE 100 and well behind a number of companies in the FTSE 250.\n\nM&S chairman Archie Norman and chief executive Steve Rowe are overseeing the latest in a series of turnaround plans.\n\nThey have recruited TV presenter Holly Willoughby to revitalise the company’s outdated fashion collections.\n\nBy [Sahar Nazir](https://www.retailgazette.co.uk/blog/author/sahar/)\n\nSource Link [www.retailgazette.co.uk](https://www.retailgazette.co.uk/blog/2019/08/ms-faces-axe-ftse-100/)\n\n "}