Marks & Spencer sees profits jump 58%, but hikes cost-cutting target
The IndependentFor free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “With continuing cost headwinds, notably from investment in colleague pay, the structural cost programme is critical to our profit progression,” the firm said. It said it was in the “strongest financial health since 1997” and was confident of making “further progress” over the financial year ahead. The group cautioned that profitability at its Ocado Retail joint venture was “well below the original business plan and expectations”, but that it was working closely with partner Ocado to “reset the business” and drive customer and sales growth.
History of this topic
Currys warns Budget will lead to ‘inevitable’ price rises due to £32m of extra costs
The Independent
Marks & Spencer boss 'can't rule out' price rises after retailer hit with extra £120m in costs from Labour's tax bomb budget
Daily Mail
Marks & Spencer winning streak continues as profits soar
Daily Mail
Marks & Spencer sees profits surge, but cautions over consumer pressures
The Independent
Target Cuts Prices on 2,000 Items in a Price War Ahead of Holiday Season
CNN
Co-op returns to profit despite hit from rising wages and shoplifting
The Independent
Next set to deliver higher profits despite pressure on shoppers
The Independent
Marks & Spencer staff will get £10,000 payouts after retailer announced 'best ever Christmas' and is poised to overtake Waitrose as Britain's middle-class shop of choice
Daily Mail
SHARE OF THE WEEK: Marks & Spencer to reveal full-year results
Daily Mail
Target wrestles with pullback in spending and theft that may cost retailer more than $1B this year
Associated Press
Next to unveil higher sales and profits despite consumer spending pressure
The Independent
Waitrose to invest £100m in cutting prices of own-brand groceries
The Independent
Marks & Spencer warns of tougher trading ahead as half-year profits dive
The Independent
Domino’s sees costs take a bite out of profits
The Independent
Marks & Spencer raises profits outlook but warns over soaring supply costs
The Independent
Marks & Spencer to announce transformation progress amid supply pressures
The Independent
Marks & Spencer to close 30 stores after slumping to £201m loss
The Independent
Marks & Spencer to cut 7,000 jobs as clothing sales collapse
CNNDiscover Related
)
