It’s possible to see better times ahead for the beleaguered retailer but its bosses have to show they can deliver on Rowe’s plans. They also need to look after long-suffering staff, says James Moore
There is a glass-half-full story as regards M&S and it appears there’s finally an appetite for it among the beleaguered retailer’s punchdrunk investors.
The shares were markedly ahead (albeit from a very low level) on the back of the full year results, despite the group announcing that pre-tax profits for the year to 31 March limped in at £67.2m, against £84.2m last time, with no dividend in sight. It’s a dismal looking number, the lowest in decades.
But the shares ended yesterday’s trading session up 10.77 per cent, albeit from a very low base. So where were the green shoots investors saw?
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