Encouraging results10 Apr 2014 10:57
The results this morning were encouraging. Particularly in fashion, where the new team has obviously started to make its mark, even if the increase was helped by a reduction of margins. Food was also a continued winner. It would have been higher with an earlier Easter, and, compared with disappointing results from Tesco, Sainsbury, and particularly Morrison, better than their peers. For all the talk about women's frocks food contributes vastly more than all clothing in terms of turnover and profits. Amazing, given that it was not a factor when I first went into a M&S before WW2.
