The figures are encouraging and beat forecasts. There could be more to come and the business looks in good shape. The profit forecast is a little under forecasts but the larger than expected bonus pot goes some way to explaining that. I think there could be more to come from M&S.
GREG LAWLESS | COLLINS STEWART
The timing of the sale helped the figures but the bonus pot was large and profit forecast are only in line with forecasts. We highlight that post the election consumer sentiment [taxes up, public spending down] could weigh on the shares, together with Marc Bolland’s strategic review.
KEITH BOWMAN | HARGREAVES LANSDOWN
There is nothing terribly awful in these figures but I think investors will still be wary. The figures were boosted by the unseasonal weather and the inclusion of an extra day of sale so we
must be cautious.