M&S Surges as Long-Awaited Turnaround Finally Shows Results
- Retailer forecasts revenue to rise for third consecutive year
- CEO Stuart Machin plans to reinstate dividend in November
M&S stock has risen 24% over the past year.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Marks & Spencer Group Plc surged as a long-promised turnaround finally showed signs of delivering results at the UK retailer.
M&S expects modest growth in sales from almost £12 billion ($14.9 billion) for the year to April 1 as it moves more of its business online and revamps stores. The company plans to reinstate a dividend in November after scrapping payments during the pandemic.