M&S to speed up change as profits fall again​

LONDON: Marks & Spencer said it would accelerate its turnaround plan as it reported on Wednesday a 5 per cent fall in first-half profit, a second straight decline, hurt by sales falls and cost pressures. M&S, one of the best-known names in British retail, said it would speed up changes for clothing and homeware in its stores, including closures, cutting space and relocations. It also plans to open fewer Simply Food stores than previously planned. Chief Financial Officer Helen Weir had decided to leave as soon as a successor was found. — Reuters