M&S raises profits outlook after revamp of clothing division pays off

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Retailers’ profits above pre-Covid levels but it warns of supply chain costs and disruption to come

A revamp of its clothing business has helped Marks & Spencer raise its profits outlook for the second time in less than three months but it has warned over soaring costs and disruption from supply chain problems.

M&S said its strong performance over the six months to October reflected a 10% jump in food sales as well as “substantial improvement” across its once-struggling clothing and homeware division.

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