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: US Consumer Sentiment Amid the Energy Shock: Premium Subscriber CallOverall Sentiment Declines Despite Rate Cut—But Higher Earners Are More Confident: US Consumer Survey InsightsThree Data Points We’re Watching This Week, Week 17: US Retail and Consumer LatestUS Store Tracker Extra, January 2025: 50+ Million Square Feet of Retail Space Slated To Close This Year
