Marks & Spencer has declared the group is in its strongest financial health for nearly 30 years as a turnaround has paid off with a 58 per cent surge in profits and buoyant sales across its food halls and clothing arm.
Boss Stuart Machin said he was seeing “the beginnings of a new M&S” thanks to revival efforts, which helped the retail bellwether to post better-than-forecast annual underlying pretax profits of £716.4m, up from £453.3m the previous year. But despite the profit leap, the group said it was ramping up cost-cutting to help offset a soaring wage bill, earmarking another £100m in savings, taking the total to £500m by 2027-28.
Denne historien er fra May 23, 2024-utgaven av The Independent.
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Denne historien er fra May 23, 2024-utgaven av The Independent.
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Ambitious Everton look for upgrade on the Dyche grind
Sean Dyche was never the manager Everton really wanted.
Everton ease to FA Cup win as team reboot starts
They are not used to cheering the men in the technical area.
THE ART OF NOISE
Alt-popper Ethel Cain lashes listeners with sound on her experimental second LP, 'Perverts'. Helen Brown submits
Kidman is utterly fearless in unabashedly sexy 'Babygirl'
Dutch writer-director Halina Reijn has made a BDSM film rife with fumbling uncertainty, and comedy-drama 'A Real Pain' manages to stay honest,
The secret shame that saw Callas retreat into obscurity
She was the opera diva with a tumultuous and tragic private life but something else would derail her career as one of the greatest singers of all time, as Meghan Lloyd Davies explains
At home with Gen Zzzzz
Being boring has never been more in - but Kate Rossiensky wonders if the humblebore lifestyle is a deflection technique
PLAYING DUMB
As the thoroughly decent (and rather smart) Kasim is ejected from 'The Traitors', Helen Coffey asks whether intelligence has become a hindrance that should be concealed at all costs
The woman who cried wolf and fuelled a local race war
When Ellie Williams told of her experience at the hands of a grooming gang, it seemed clear what was right vs wrong. But the truth, writes Zoë Beaty, was much more complicated...
Biden hails 'strength of character' in Carter tribute
Every living American president filed into pews at the Washington National Cathedral yesterday to honour one of their own at the funeral for Jimmy Carter, who died late last month at 100 years old.
Wake up and smell the fires
We live in a 'magic bubble' of denial but the LA infernos and Covid before it demonstrate why we must be better prepared
