Company Earnings Update 4 minutesRegister for Free AccessMarks & 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? Register for a free user account. This document was generated for Other research you may be interested in: E-Commerce Merchandising: Using CGI and AI To Increase Conversion and Boost Your Bottom LineData Dive: How US Consumers Spent in 2022—and Why Services Are Yet To Fully Bounce BackDay Two at NRF 2023: Retail’s Big Show—Retailers Tap Tech To Streamline the Consumer JourneyRetail-Tech Landscape: Israel—December 2023 Update