M&S, Manchester United, Facebook: Everything that matters this morning
M&S profits take a hit as it confirms more store closures
Marks & Spencer (M&S) has seen a steep decline in annual profits, after shouldering a one-off charge of £321m to cover the cost of closing and reorganising stores.
Its pre-tax profits dropped by 62% to £66.8m, down from £176.4m the previous year.
M&S confirmed yesterday it will close more than 100 clothing and home stores by 2022 as it looks to become more relevant to customers and take at least a third o
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