Marks & Spencer profits down

Marks & Spencer has just announced 6 months figures showing profits are down 10% to £315 million, somewhere in the middle of analysts expectations.

This highlights the pain that high street retailers are feeling, as consumers struggle with higher prices all round but overall the figures could have been much worse and the market has reacted very positively to these figures.  M&S shares have opened around 3% higher in a market very much weighed down with european debt considerations.