Marks & Spencer returns to FTSE 100 after four years as turnaround plan pays off

M&S was one of the founding members of the FTSE 100, which lists the UK’s top 100 firms according to market value, and returns to the index for the first time since 2019.

The retailer has seen a 75% increase in share price this year and has upgraded its annual profit outlook, driven by strong sales in both its food and clothing divisions.

Chief executive Stuart Machin said in a LinkedIn post: “Good news for M&S today, and it’s a reflection of everyone’s hard work – but the sky didn’t fall in when we left the FTSE 100 four years ago, and it doesn’t change our priorities today.

“To be frank, it’s just another day, and we’re only as good as our customers shopping with us today tell us we are. That’s what matters, and if we do right by our customers, we’ll do right by our shareholders.

“Although we’ve made progress, there is still so much more opportunity ahead, and my mantra with everyone is to stay positively dissatisfied, always seeking to raise the bar. As a team, we are very ambitious for the future of M&S and our focus is on reshaping the business for future growth.

“So today, we’ve just got to crack on with the job and make sure we continue our positive momentum.”