Company Earnings UpdateMarks & Spencer (LSE: MKS) FY18 Results: Exceptional Costs Hit Profits; Only on “Mile Three or Four of a Marathon” Coresight Research May 24, 2018 Executive Summary Marks & Spencer (M&S) reported a 38% fall in operating profit and a 62% slump in pretax profit in FY18. The declines were largely due to costs related to store closures. Food segment comps were down 0.3% for FY18 and Clothing and Home comps were down 1.9%, with both segments seeing declines deepen in the final quarter. CEO Steve Rowe likened the plan to turn around M&S to a marathon in which the company is currently “only about three or four miles in.” Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for Other research you may be interested in: Earnings Insights 4Q24, Week 4: Birkenstock, Hermès, Sprouts and More Post Double-Digit Growth—InfographicApparel and Footwear Shopping in Focus—Amazon and Walmart Lead; NIKE Ranks as Top Brand: US Consumer Survey InsightsThe Impacts of US Tariffs: Assessing Companies’ International Sourcing Exposure by CountryAnalyst Corner: What’s Happening in China’s Economy? Analyzing Retail and Consumer Metrics with Madhav Pitaliya
