Marks & Spencer to announce transformation progress amid supply pressures

For 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. It is expected to show profits above pre-pandemic levels after a strong year of recovery, with analysts at Jefferies forecasting a £264 million pre-tax profit, compared with £176 million two years ago. On the food side, the value perception is better than it has been for five years and the promotional offer is far less confusing Jonathan Pritchard, Peel Hunt Both M&S’s clothing and home and food businesses have been described as “stronger” than they were before the pandemic. Jonathan Pritchard at Peel Hunt said: “On the food side, the value perception is better than it has been for five years and the promotional offer is far less confusing.” M&S has also reported recent progress in the recovery of its clothing and home operation, which has been the focus of Mr Rowe’s transformation efforts. Christmas is key for many retailers but represents a particularly important period for M&S, with gift-shopping sparking more demand in clothing and home while its food business also typically sees a surge in customer numbers.