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Tuesday, numbers are large academic: analysts and shareholders had come to hear the Bolland strategy (although billion of ￡ capital expenditure additional Bolland plans to "invest" in the company appears to academic nothing given how M & S shareholders were invited to plow in the business for the past five years).

Despite a recent rally - that has added nearly 100 percent for the price of the shares - shares marks & Spencer have lower FTSE 100 last year, three and five years.

Its difficult to see Bolland reverse this record under-performance without radical action to reposition the food retail sector and to broaden the appeal of his clothes.

Whereas the M & E is "evolution" under Bolland the rest of the High street is evolving beyond all recognition.

Stage of Cadbury panto to run and run

The battle of Cadbury support rapidly escalated into a pantomime - with Irene Rosenfeld, U.S., President and Chief Executive as the villain and Roger Carr, President of Cadbury as courageous British loser.

Selling off the country outside a raider, chocolatier was apparently a step too far: whatever we have sold our airports to Espagnols.nos Dubai ports.and our nuclear power plants in the French.Cadbury bid sparked a national debate on takeovers by foreign companies.

The debate is intensified when Kraft reneged on his promise to reverse plan of Cadbury to close its plant in Somerdale.Cette decision prompted a review of the rules taken - and helped Rosenfled conversion as the witch méchant eastern coast).

Even third quarter commercial Kraft update published United States late Friday evening, suggests that the script was not straightforward.

Cadbury sales growth has fallen sharply in the third quarter to 0.1pc.Un result, claimed Kraft, "measures to normalize trade Cadbury inventories.The implication is clear: Cadbury customers were encouraged to stocks of submission that Cadbury desperately tried to present the best image possible.

His application rejected by the former leaders of Cadbury - which has now plusieurs.Les last year's figures were stimulated by the launch of the new gum Trident layers, they insist, while suggesting that Kraft is "kitchen sinking" the latest figures.

Unfortunately for Carr and his former colleagues, it is usually the winner gets to write the undertaking pantomime .this story might more to run.

Indifferent city the Yell Group vehemently

There is exactly one year Yell tapped its shareholders 660 m ￡, placing billion shares at 42 p.Comment is chaired by former Merrill Lynch investment banker Bob Wigley - directories - business and city councillors mark the first anniversary?

Yell reported a fall 12pc sales and warned that it was 'little signs of recovery' does ' isn't surprise, shares fell 20pc close to 12.4% - spent a bit of time all the.

Regards his advisors, Merrill (who shared a large part of the 85 million earnt from ￡ by bankers put last year) withdraw its recommendation to purchase, problem of profit forecasts and warned customers that there is now a media undertaking risk could violate its debt covenants.

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In a daring to boost its international growth plan, M & S approached the European retailers on some of the properties he came in 2001 when he closed the entire continental chain re-acquiring.

The retailer is supposed to made openings at Spanish chain El Corte Inglés on taking back some of the nine workshops he sold to the retailer.M & S is also re - gain 18 French stores were also let go in an agreement with the Galeries Lafayette, the retailer fran?ais.Ces stores include the lighthouse on Paris, Boulevard Haussmann, who was first ever European store M & S shop when it opened in 1975.

Strategic approach, is likely to surprise investors and the city could be confirmed next week when new Chief Executive of Marc Bolland, M & S unveils its long-awaited chain review.

In what is still regarded as one of its biggest ever strategic blunders, M & S announced in March 2001 that it would close all 38 of its continental stores at the end of the year as part of a restructuring of the group.The move saw 3 350 jobs go to Europe.

M & S decision has caused uproar amongst European consumers and was greeted with strikes, sit-ins and angry demonstrations by continental staff, including a rally in London.Paris store had his own book of condolence and, when closed, the shop became a symbol of the decrease in global M & s.a. Chairman era ambitions M & S, Luc Vandevelde said the division in place of M & S, which included also the sale of two chains of U.S. operations was "one of the most important in the history of M & S ads."

Executive of retail with knowledge of the situation said that M & S was willing to make amends.

"They approached El Corte Inglés to buy assets .Marc Bolland wants to rebuild quickly geographies", said the Executive.

M & S potential costs of back stores are not connue.En 2001 he sold for a reported nine Spanish stores
€150 m (￡ 130 m) .Cependant, the price of trade goods in Europe reached since, despite the recent downturn.

"It all depends on cheque of how big M & S,"said the Executive.""

A second source said: "M & S has been circling back to see where the property was on some of the properties he was released in 2001." ""It is a point of view that society got them in some haste.?

Incumbent Sir Stuart Rose, M & S and its former Executive Director, said in the past he lamented decision chain to leave its European stores.

One observer said: "there is Marc to be very fatty international possibilities." "

European shops M & S exchanged successfully during the 1980s and 1990.En 1997 M & S Continental operation contributed 38 m ￡ to win, but in 2000, the division was ￡ 6.1 m loss, and in the first half of 2001 losses extended to ￡ 10.8 m.

M & S has 320 stores overseas but the vast majority of these stores is managed franchises and has no subsidiary stores in Europe occidentale.La chain has already developed plans for growth in China and India.

M & S refused to comment.

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