More on Marks & Spencer
Marks & Spencer: Q1 trading statement
Marks & Spencer continued to produce good like-for-like growth, and for the second quarter in succession there was strong like-for-like growth in “general merchandise” (non-food, mostly clothing) sales (10.5%). Growth in food sales has been strong for some time.
With overall like-for-like growth of 8.2% and expansion of the food business likely to continue, we expect M & S to be able to continue its strong recovery this year and beyond.
At 586p Marks & Spencer is trading on a prospective PE of 16× with a 2.4% yield. This is not particularly cheap but is within the sector range and is reasonable value given the strength of the recovery.
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