Marks & Spencer’s Shares Surge – Dividend Glory!
In an unexpected burst of corporate cheerfulness, Marks & Spencer (M&S) saw its stock jack up 7% on a sunny Wednesday morning. The bright spark? The company paid investors a full‑year dividend for the first time since 1997. That’s like finding a hidden chocolate bar in an old cereal box.
Profit Gains: 58% Jump, Who’s Watching?
- Underlying pre‑tax profit grew to £716.4 million from £453.3 million a year earlier.
- CEO Stuart Machin says the “reshape for growth” plan is taking off, and a “new M&S” is starting to shine.
- Food, clothing and home categories outpaced the market, boosting both volume and value share.
Quarter‑by‑Quarter Momentum
Both core businesses – groceries and apparel – have now boasted a streak of 12 straight quarters with sales growth. This unbroken ascent is giving the company “wind in its sails” and firm confidence that the revitalisation charter is on track.
With dividends flowing, profit climbing, and customers buying more, M&S looks ready to outshine rivals, and maybe even get a new nickname: “The New M&S.”
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