logo
  

Marks & Spencer Boosts FY Profit Outlook

Marks and Spencer Group Plc (MAKSY.PK,MAKSF.PK,MKS.L), on Friday, issued trading update for 19 Weeks To 14 August 2021, and reported improved sales performance and profit delivery.

Food revenue in the period has outperformed, increasing 10.8% on last year and 9.6% on 2019/20. Clothing & Home revenue was up 92.2% on last year and down just -2.6% on 2019/20.

International revenue grew 39.7% on last year and down only -5.2% on 2019/20 despite the impact of lockdown in India in the early part of the financial year and substantial Brexit related effects on the supply of Food to the company's businesses in the Republic of Ireland and France.

Further, the company said it expects adjusted profit before tax for the year to be above the upper end of previous guidance of £300 million - £350 million.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Asweets Global Inc. is recalling about 2,000 units of Wonder & Wise Activity Tables for potential risk of choking hazard to young children, a statement by the U.S. Consumer Product Safety Commission (CPSC) showed. The company said the screws of the tables can become loose and/or detach from the xylophone component of the activity tables to pose a choking hazard to young children. Chinese e-commerce giant Alibaba Group Holdings Ltd. (BABA) reported Thursday a net loss for the fourth quarter that sharply widened from last year, despite 9 percent growth in revenues, hurt by a decreases in the market prices of our equity investments in publicly-traded companies. Omni-channel fashion retailer Macy's, Inc. (M) reported Thursday a first-quarter net income of $286 million or $0.98 per share, sharply higher than $103 million or $0.32 per share in the prior-year quarter. Excluding items, adjusted net income for the quarter was $315 million or $1.08 per share, compared...
RELATED NEWS
Follow RTT