Marks & Spencer's Remarkable Turnaround: Profits Soar Amid Strategic Reforms

Marks & Spencer reported a 17.2% profit rise in the first half, driven by strategic revamps in food, clothing, and tech. With shares rising by 75% in a year, the retailer foresees continued progress under CEO Stuart Machin's reforms.

In a striking financial display, British retail giant Marks & Spencer reported an impressive 17.2% increase in first-half profit, surpassing market expectations.

This strong performance is buoyed by notable market share advances and signals the success of the retailer's latest turnaround plan under the leadership of CEO Stuart Machin.

Since implementing strategic improvements across its product offerings and operations, including significant investments in food and clothing, M&S has seen its shares climb by 75% over the past year, recently reaching an eight-year high.

(With inputs from agencies.)