Marks & Spencer upgrades profits as sales grow

Marks & Spencer foodhall 11

M&S has upgraded its profit outlook after growing market share in its clothing and home and food businesses.

In a trading update for the first 19 weeks of the year, M&S said like-for-like food sales grew over 11%, as M&S made “further investment in quality and trusted value” and lowered prices on more than 80 ‘Remarksable Value’ lines.

Like-for-like clothing and home sales grew more than 6% over the same period, driven by strong growth in stores over online.

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