M&S: Not the car crash the headline numbers suggest

Marks & Spencer's results were better than they looked at first glance

The headline numbers in Marks & Spencer’s full-year results today looked like a bloodbath at retail’s most venerable name.

Profits fell an eye-watering 63.5% and like-for-like sales at the crucial clothing and home division were down a depressing 3.4%.

 

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