"A sharp jump in Marks & Spencer's shares this morning means that the retailer got its news management right, by releasing the details of big store closures ahead of its results, but the numbers themselves are nothing to be proud of and show just how much work there is still to be done", said Russ Mould, investment director at AJ Bell.
After taking account of special items of 514.1 million pounds, including the charge relating to store closures, pretax profit was 66.8 million pounds, a 62 percent fall.
The full-year results are slightly better than the City had feared but continue the longterm decline in profits that M&S has experienced from a decade ago, when it reported profits of £1 billion.
M&S shares - down 7% in the year to date and the biggest fallers on the FTSE 100 on Tuesday - rose 6% in early trading on hopes the worst is behind the 134-year-old retailer. "Accelerated change is the only option".
Chief executive Steve Rowe said the charge was linked to M&S' overhaul plan, which was focused on "restoring the basics" and transforming the firm's culture towards a "a faster, lower cost, more commercial, more digital business".
Clothing & Home revenue fell 1.4 percent to 3,741.1 million pounds for the 52 weeks to March 31, 2018, with like-for-like revenue down 1.9 percent. In addition, the group is set to close 25 percent of its Clothing & Home space to as sales shift online and investing to increase and improve its commerce capacity to support its aim to double its online sales to more than 33 percent. It has also scaled back the number of Simply Food stores it planned to open this year by 15.
Will Smith 'to perform World Cup 2018 song'
Prior to that, Vibe reported that, according to reggaeton producer DJ Nelson , Smith and Nicky Jam were working on the song . Diplo has worked with several major pop artists such as Beyonce, Justin Bieber, Snoop Doog and Madonna.
This Well-Meaning Chrome Update Broke Several Apps and Games
Now, automatic mute won't apply to anything using the Web Audio API until Chrome 70, which scheduled for release in October. The autoplay blocking is an example of how browsers are getting more assertive on behalf of users faced with pushy websites.
Geologists say Kilauea volcano could soon explode
The plant, which is owned by Ormat Technologies of Reno, Nevada, is across a highway from where lava has been erupting. Plant manager Mike Kaleikini said Thursday that all the fuel was moved off-site to a secure location.
In support of these changes, M&S expects capital expenditure of £350-400mln in 2019 but sees United Kingdom costs falling by up to 1% due to cost efficiencies and lower depreciation.
The closures will affect its clothing and home stores, which have under-performed for several years.
Commenting on the results Laith Khalaf, senior analyst at Hargreaves Lansdown (Frankfurt: DMB.F - news), said M&S investors were essentially being asked to take a "leap of faith".
"This is vital as we start to leverage the strength of the M&S brand and values across a family of businesses to deliver sustainable, profitable growth in three to five years".
Liberum maintained a "sell" rating on the stock, saying the full year results "leave us unable to see any evidence yet of progress on the transformation strategy".
The study focused on trends in emergency rooms and inpatient encounters for suicidal thoughts or actions from 2008 until 2015. It suggests that the youth may face increased stress and mental health challenges when school is in session.
Kim revealed plans to shut down the nuclear test site during his summit with South Korean President Moon Jae-in last month. Thank you, a very smart and gracious gesture!", Trump wrote on Twitter. "I really think a lot of progress has been made".
However, Daviess County Clerk David Osborne said the lack of a primary for Owensboro City Commissioner could affect local turnout. He'll have to fend off Republican Mary Jones if he wants a chance to defend his seat in November.
They'd even take their little postcards, burn one corner in the lava flow, mail then off, stuff like that", he said. Geological Survey has the resources it needs to strengthen our monitoring, warning, and response capabilities".
European governments are scrambling to save billions of dollars in trade with Iran that resumed thanks to the 2015 accord. Tehran has repeatedly said that it would never accept re-negotiating the nuclear deal.
Texas holds a 7-1-1 record in the all-time series. "This will certainly be a great opportunity for our program and our fans". The scheduling of this series, however, also means another high-profile home-and-home involving UT has been adjusted.
Reinforcements including commando units as well as the Afghan air force were battling Taliban fighters around the city, he said. In 2017, insurgents tried to overrun the capital three times, according to the Afghanistan Analysts Network.
A former chief of the Anti-Terror Squad of Maharashtra, Himanshu Roy was an Additional Director General of Police. Actor Neel Nitin Mukesh, who was a family friend of Roy offered his condolence to the deceased IPS officer.
After Gilstrap-Portley was exposed, a school board spokesperson said it will be reviewing its homeless student policies. It could have gone differently if he had other intentions to hurt her or to traffic her'.
Palestinians carry away an injured protester who was shot in his leg during clashes with Israeli forces east of Gaza City. Groups of young activists repeatedly approached the fence, but were quickly scattered by gunfire and tear gas.
The European members of the deal - France, the United Kingdom and Germany - are trying to keep it alive without the U.S.
Senate Democrats procure vote on Net Neutrality
Democrats used a law that allows Congress to reverse regulatory actions by a simple majority vote but it is not clear if the U.S. The Senate voted 52-47 yesterday to overturn the decision late previous year to end Net Neutrality rules.
West Ham set to part ways with Moyes
Moyes has endured some hard seasons but is certainly helping West Ham dig out from the bottom three. We have conceded a lot of goals this season so a clean sheet is great.
YouTube's new feature lets you stop watching YouTube
So it's likely that in the near future, you'll see plenty of other apps coming out with an updated Material Design look and feel. A Youtube take a break reminder will pop up on your screen after the scheduled time, but it doesn't ruthlessly lock you out.