Marks & Spencer has reported its best financial performance since 1997. The company saw a significant rise in sales by 9.4%, reaching £13 billion (€15 billion) last year. Pre-tax profits soared by an impressive 41.4% to £672.5 million (€790 million).

This remarkable turnaround was largely driven by the food and clothing sectors, with food sales up by 13% and clothing by 5.3%. Notably, menswear, denim, and lingerie were top performers, with the chain selling 114 items of underwear per minute last year.

CEO Stuart Machin highlighted the success of their strategic changes, including opening more food stores and closing less profitable outlets: “We have wind in our sails, confidence that our plan is working… and there’s so much more opportunity ahead of us”.

Marks & Spencer aims to reestablish itself as a comprehensive shopping destination, not just for special occasions.