Marks and Spencer has returned to its position at the top of the UK retail landscape, and in the process has taken its value to more than upstart fast-fashion retailer Boohoo and online rival Asos together, two years after Boohoo found itself at the top of what turned out to be a short stay, the Financial Times (FT) reported. Marks and Spencer improved their earnings forecasts twice in the past year, and Clive Black, an analyst at real estate agency Shore Capital, said in the report that he could do so again when he updates investors this week. Kate Calvert, retail analyst at Investec, told FT that the strong restructuring of Marks and Spencer helped increase the price of its shares. The retailer closed stores, reduced jobs in corporate offices and eliminated store management levels.
Who is the uk's biggest clothing retailer?
Marks and Spencer has returned to its position at the top of the UK retail landscape, and in the process has taken its value to more than upstart fast-fashion retailer Boohoo and online rival Asos together, two years after Boohoo found itself at the top of what turned out to be a short stay, the Financial Times (FT) reported. Marks and Spencer improved their earnings forecasts twice in the past year, and Clive Black, an analyst at real estate agency Shore Capital, said in the report that he could do so again when he updates investors this week.
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