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Marks and Spencer logo

Marks & Spencer have reported a 20% increase in their profits over the last 6 months (to the end of September).

Luc Vandevelde, the Chairman and chief executive, said: "Our focus on UK retail is showing early results and the restructuring programme is proceeding well."

This was initially announced in March and it created widespread anger in France when they announced the closure of all its stores in order that they could concentrate on the UK market. They also said they would be returning to exclusively selling their own brands, in order to "guarantee customers the quality, value and service they have come to expect".

Mr Vandevelde gave himself till the end of the year to turn the fortunes of the store around, at this point it looks like he may be achieving his aim!


To view Marks and Spencer's history click here.


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