M&S – still not transformed …

Marks & Spencer (M&S) has been struggling for many years, so it must have been a relief for the company to announce full-year results on 24 May which surprised and pleased London’s financial community in the City. At a time where many of the more traditional UK retailers have been struggling (and in worst cases going out of business), the long-promised turnaround in general finances at M&S finally seems to be happening.

Unfortunately, as I worked my way through the wine range shown at the M&S spring...