Emblematic British retailer Marks and Spencer has posted its best non-food quarterly results in four years.
The Christmas campaign was ruined by poor online distribution, but Britain’s biggest clothing outlet said a 0.7% increase in fashion, footwear and homeware boosted the figures and sent shares up by over 6% to a seven-year high.
It was the first time in 15 quarters that M&S has not posted a fall in non-food sales, and beat analysts’ forecasts.
The food business continues to outperform the market and long-overdue investment is boosting profit margins.
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