Britain's M&S raises profit outlook after strong trading

(Reuters) -British retailer Marks & Spencer raised its profit outlook on Tuesday, saying demand in stores had helped it to win new customers for its clothing, home and food businesses, sending its shares up sharply. The 139-year old group, whose shares have risen 66% so far this year, said it now expected profit growth in its full 2023-24 year, having previously forecast a small decline. Like other major British retailers, M&S has benefited from robust consumer spending despite a cost of living crisis that has entered its second year, driven by 14 consecutive interest rate rises designed to tackle stubbornly high inflation.
(Reuters) -British retailer Marks & Spencer raised its profit outlook on Tuesday, saying demand in stores had helped it to win new customers for its clothing

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M&S raises profit outlook following a strong start to the year