Marks & Spencer escapes U.K. retail woes, sees challenges ahead

04/5/2011 | Reuters

Marks & Spencer has so far avoided the lackluster sales and growth woes plaguing the U.K.'s retail sector, gaining ground with innovative new products such as stormproof suits and new home appliances. The company is predicting flat profit margins for 2011-12 as tax increases and welfare benefit cuts come into force amid a period marked by lackluster wage growth and rising prices.

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