Company Earnings UpdateMarks & Spencer (LSE: MKS) FY18 Results: Exceptional Costs Hit Profits; Only on “Mile Three or Four of a Marathon” Coresight Research May 24, 2018 Executive Summary Marks & Spencer (M&S) reported a 38% fall in operating profit and a 62% slump in pretax profit in FY18. The declines were largely due to costs related to store closures. Food segment comps were down 0.3% for FY18 and Clothing and Home comps were down 1.9%, with both segments seeing declines deepen in the final quarter. CEO Steve Rowe likened the plan to turn around M&S to a marathon in which the company is currently “only about three or four miles in.” Please Login to read the full report. Not a member? To access this content for free, register for a free account. This document was generated for Other research you may be interested in: High Earners Drive Economic Sentiment Higher: Weekly US Consumer Sentiment, Week 35, 2025—InfographicPositive Sentiment Trend Comes to an End; Kohl’s Leads in Department Store Shopping: US Consumer Survey InsightsUS Store Tracker Extra, September 2025: Ollie’s Bargain Outlet and Alimentation Couche-Tard Add 3+ Million Square Feet to Total Opened Retail SpaceUS Store Tracker Extra, July 2025: 127 Million Square Feet of Retail Space To Close, Outpacing Openings by 60%
