Company Earnings Update 4 minutesRegister for Free AccessMarks & Spencer (LSE: MKS) FY17 Results: A Disappointing Final Quarter; Exceptional Costs Weigh on Profits Coresight Research May 25, 2017 Executive Summary M&S grew total full-year sales by 2.2% to £10.62 billion, marginally ahead of consensus and despite negative comps in its UK Clothing and Home and UK Food segments. UK Clothing and Home gross margin grew by 105 basis points on the back of more direct souring and less discounting. Unadjusted pretax profit fell 63.5%, due to £437 million of exceptional costs related to changes in pay and pensions, UK restructuring and exiting from some international markets. Please Login to read the full report. Not a member? Register for a free user account. This document was generated for Other research you may be interested in: New Sustainability Requirements in Europe—Dragging the Rest of the World Forward?Data Dive: From Cotton to Wheat—What’s Happening with Retail Commodity Prices?Generative AI Latest: Indian Conglomerates Enter the Space, the US Drives the Responsible Use of AI, Adobe Launches New ProductsJuly 2023 US Retail Traffic and In-Store Metrics: Signs of a Nonfood Recovery as YoY Declines Ease
