Marks & Spencer shares surge 17% after results, higher guidance

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Shares of Marks & Spencer PLC MKS, +14.48% jumped 17% on Wednesday after the U.K. retailer swung to a pretax profit for the first half of fiscal 2022, and lifted guidance. M&S said it expects to report an adjusted pretax profit for the full fiscal year of around £500 million ($677 million), from guidance it gave in August of £350 million. The retailer also warned that it sees cost pressures ahead from labor-market and logistics issues.

This article was originally published by Marketwatch.com. Read the original article here.

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