Stock Spotlight: Marks & Spencer makeover sparks first signs of success

Stock lost nearly half its value in 2022

After losing half of its market value last year, Marks & Spencer’s makeover is beginning to show signs of success, after the market share of its clothing and food businesses reached a seven-year high.

Co-CEOs Stuart Machin and Katie Bickerstaffe are leading a transformation of the 139-year old retailer, in an effort to increase online sales, address its costly retail portfolio and stay relevant in fashion. At a time when many high street retailers are slowly reducing their physical presence to focus on online shopping, M&S is moving into the opposite direction. Last week, the group said it plans to open 20 "bigger and better" stores during the next two years, as part of a radical overhaul of its store estate, which will see it invest £480m and create 3,400 jobs. Ian Lance, portf...