Marks & Spencer: stock up after FY results

(CercleFinance.com) - The Marks & Spencer stock is bubbling today in London, up over 6%, after the British department store chain posted 2017-18 pre-tax earnings of 66.
8 million pounds, compared to 176.4 million pounds a year ago.

The first phase of the group's transformation plan, restoring fundamentals, is now on track, said CEO Steve Rowe, explaining that the short-term costs of these changes are reflected in results that have been published.

Before tax and extraordinary items, Marks & Spencer's FY income only slipped 5.4% to 580.9 million pounds, with sales that inched up 0.7% to almost 10.7 billion pounds.


Copyright (c) 2018 CercleFinance.com. All rights reserved.