Marks & Spencer sales uncertain whilst turnaround strategy bites

In the fiscal year to April 2017, M&S posted sales up by 2.2%, mainly driven by the food division (+4.2%) whereas the clothing and home division decreased by 2.8% (final annual results).Eager to become a more efficient and food-focused company, M&S went through a restructuring and cost-cutting 12 months, closing in 10 unprofitable foreign markets last year, shutting stores and reducing retail sq.m in the U.K. Annual net margin dropped by 71%, reported as 1.4% of sales. M&S will open