Marks & Spencer Group Plc’s reign as the U.K.’s largest clothing retailer by market value is over after it was overtaken this week by competitor Next Plc.
Next, which gets about a third of sales from its online Directory unit, rose 1.2 percent to 3,199 pence today, giving it a market capitalization of 5.28 billion pounds ($8.3 billion). That’s 62 million pounds more than the 5.22 billion-pound valuation of London-based Marks & Spencer.
