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M&S Shares Eclipse Ocado’s in This Year’s Reversal of Fortunes

  • Shares in U.K. retailer M&S head for best year since 2009
  • Lockdown beneficiaries such as Ocado have suffered in 2021
Marks & Spencer Group Plc Cuts 7,000 Jobs in New Hit to U.K. Employment
Photographer: Simon Dawson/Bloomberg

Shares in Marks & Spencer Group Plc have staged a comeback this year, signaling a reversal of fortunes between the U.K. retailer and its joint venture partner Ocado Group Plc

M&S shares are on track for their biggest annual gain since 2009, rallying 73% amid signs of recovery as the High Street stalwart increased its profit outlook twice this year. More gains could be in store during 2022 for a stock still down 59% from its 2015 peak.