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Marks & Spencer Profits JumpThe shares of Marks & Spencer hit a new high today, after the announcing that pre-tax profits in the six months to September rose by 32pc to £406.5m; this is the highest first-half profit for M&S for almost a decade.
Reversing a six-year decline in childrenswear, which made its first market share improvement for six years, M&S gained market share in all areas, and now holds 10.1pc of the UK clothing market, reinforcing its position as the largest clothing retailer in the UK.
Also, Mr Rose, chief executive of Marks & Spencer, announced that following a review of its property portfolio the group plans to increase total space in the UK by 15pc-20pc, which will include opening major out-of-town stores and growing its presence in retail parks. M&S said it would also add to its presence in larger city centres "through extensions, redevelopments and relocations", although a number of smaller high street stores will close.
Following successful recent trials, M&S also unveiled plans to open more stand-alone Simply Food stores on BP forecourts.
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