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M&S raises profits outlook after revamp of clothing division pays off
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A revamp of its clothing business has helped Marks & Spencer raise its profits outlook for the second time in less than three months but it warned over soaring costs and disruption from supply chain problems.
M&S said its strong performance over the six months to October reflected a 10% jump in food sales as well as “substantial improvement” across its once-struggling clothing and homeware division.
The chief executive, Steve Rowe, added that both parts of the business were making “important gains
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