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Five reasons why Marks & Spencer’s turnaround looks like the real deal
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Archie Norman, Marks & Spencer’s chairman, said he’d spotted a few “green shoots” in May, which sounded a brave call at the time. By August, though, the shoots had bloomed into a profits upgrade. Now there’s proper foliage: a forecast of profits this year of £500m, which is about £150m ahead of what had been expected, if one ignores the group’s perennial “adjusting items”.
Chief executive Steve Rowe said he won’t be claiming victory too soon “given the history of M&S”. Fair point: his
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