M&S to axe another 110 shops after announcing 9.9% profit plunge

Retail giant Marks & Spencer has posted a 10% drop in annual profits as people turn their backs on the chain’s clothes and food hauls.

The high street bellwether is undergoing a sweeping overhaul and closing 110 extra shops.

On Wednesday morning, it posted underlying pre-tax profits of £523.2 million for the year to March 30.

This is down from £580.9 million the previous year.

Boss Steve Rowe said there were ‘green shoots’ of a turnaround, but added that...
source: Metro

2019-05-22 11:17
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