After years of stagnation, there appears to be some swagger in Marks & Spencer, which is back in the FTSE 100 after a four-year hiatus.
The launch of the autumn range with Sienna Miller was well received, and the Christmas TV advert with Hannah Waddingham and Sophie Ellis-Bextor has certainly caused a stir.
Against this backdrop, there will be no shortage of attention when M&S releases its half-year figures on Wednesday.
In a bullish update in August, the company said it expected results to “show significant improvement from prior expectations.”
Food sales during the first 19 weeks of the year were up 11 percent and there was a 6 percent increase in clothing and home.
And with the stock up 80 percent so far this year, expectations are high, which isn’t always an easy position to be in.
Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: “Investors will want to know if the momentum continues at Marks and Spencer after a succession of wins illustrate its turnaround strategy is paying off… Your pick of shares has received the Approved by the buyers.’
However, warm weather has severely altered spending patterns so far this fall. Much attention will be paid to the outlook for Christmas, when shoppers will once again carefully monitor their spending.
So has M&S really finally regained its mojo? We may find out next week.
