PART OF THE WEEK: Investors will be hoping Marks & Spencer can continue its stellar recovery

Economy
By Liam

By city and financial reporter

Updated:

Investors will be hoping that Marks & Spencer can continue its stellar recovery.

Boss Stuart Machin will update the City on the High Street retailer’s annual results on Wednesday.

Analysts predict total sales of £12.9 billion, an increase of 8 percent on the previous year.

And profits are expected to have risen 41 per cent to £608 million.

M&S shares have tripled in value in just over 18 months, putting the company back into the FTSE 100.

But expectations are high – meaning another great performance is needed to keep the run going. M&S has shed its ‘sloppy’ image when it comes to clothes and is capitalizing on external brands and celebrity partnerships with the likes of actors Hannah Waddingham and Sienna Miller.

Deutsche Bank experts expect clothing and home sales to rise 5 percent to £3.9 billion.

Food sales are also expected to have performed well, up 10.5 percent to just under £8 billion.

Industry data suggests M&S could overtake mid-range favorite Waitrose as a more popular supermarket.

Investors will also want to hear whether the row between M&S and Ocado is close to a resolution.

They disagree over how much M&S owes Ocado for a final payment following their 2019 joint venture deal.

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