Peel Hunt has increased its target price for Marks & Spencer (LON: MKS) by one-third. It also believes that a dividend maybe announced with the full year figures on Wednesday (24 May).
The refit programme is the most comprehensive that has been undertaken by the retailer. Peel Hunt is particularly impressed with the food refits. For example, the Colney store has doubled the space dedicated to food and moved it to the front of the store. The clothing side is also more contemporary.
By early 2028, the number of stores offering the full line of products is likely to fall from 247 to 18...
