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BUZZ-M&S: hits 7 year high on Q4 sales rise

Thu, 02nd Apr 2015 08:05

** Marks & Spencer up 6.1 pct at levels not seen in7 yrs & poised for biggest 1-day rise since early Nov in robustvolume

** Q4 general merchandise sales LFL up 0.7 pct vs analysts'forecast of a drop of 1.2 pct & Q3 decline of 5.8 pct(reflecting unseasonal weather & e-commerce disruption)

** 1st time in 15 quarters M&S not posted fall in non-foodLFL sales; co starting to put online distribution problemsbehind it

** Stock nonetheless up almost 40 pct over last 6 mths amidfood business outperforming wider grocery market & improvingprofit margins both in non-food & food (RM: tricia.wright1.thomsonreuters.com@reuters.net)

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