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