‘M&S – how Norman and Rowe are turning a great institution into a great business’

Marks & Spencer sign against blue sky

The leadership of Marks & Spencer will not rest on pleasing short-term profits but they are proof that their strategy is working, writes George MacDonald

Profits ahead of expectations are not what the retail industry has been accustomed to from Marks & Spencer for what seems like aeons – but the retailer has started making a habit of it.

As Marks & Spencer released its interim results, it reported that earnings should come in at around £500m for the full year – a substantial increase on the already raised £350m flagged in the summer.

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