Steve Rowe, the head of Marks & Spencer, has tried to reassure investors that the retailer “has a clear line of sight on the road to making M&S special again”.
The group’s shareholders have been in a tumultuous time over the past few years and the FTSE 250-listed company’s share price remains around 36 percent lower than two years ago.
After keeping Marks & Spencer open in some form throughout the pandemic, the share price rose 65 percent last year, while the broader FTSE 250 index rose 33 percent.
Despite posting an annual loss of £ 200 million today, shares are up 7.3 percent.
Roller coaster ride: M&S shareholders have had a turbulent time in recent years
Fluctuations: A chart from UBS shows the share price and price shifts for M&S.