Much for Marks & Spencer still to do
Given bleak high street conditions and the market share gains being secured by online pure-play retailers, expectations are subdued ahead of Marks & Spencer’s (MKS) full year results (23 May).
Investors will be looking to see if the changes by CEO Steve Rowe, supported by non-executive chairman Archie Norman, are improving the British retail institution’s performance. Forward guidance from Marks & Spencer, which has carried out a senior management overhaul, will also be keenly watched.
Ahead of the figures, broker Shore Capital calls for improved adjusted pre-tax profit of £593.2m (2017: £584.5m) and a maintained dividend of 18.7p.