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News - 13 January 2007
Marks & Spencer on the up and up
The eyes of city stockbrokers have been firmly focused on Marks and Spencer over the last few weeks. The turn around in the chains fortunes has had major repercussions throughout the financial markets and has even influenced an increase in interest rates.
Sales for the third quarter and lead up to Christmas were up 9.2%. However, like so many other chains (see recent story on Next) the online business has hugely outperformed the high street in terms of growth. Internet sales for M&S were up an astonishing 70% last year.
Chief executive Stuart Rose is determined to maintain the momentum and will not allow himself or his staff to feel complacent.
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