M&S set to lag behind rival Next again in profit war

If we asked you to name some big successful British retailers, Marks & Spencer would probably spring to mind before Next.

But this shouldn’t be the case, as Next is set to outdo M&S again in the profit stakes.

Next has revised its profit guidance to between £750m and £790m - a whopping £25m more than it had previously expected.

It overtook rival M&S last year with pre-tax profits of £695m, and it’s reported a 10.7% increase in half-year sales since then.

M&S had a market cap of £7.1bn, including its food arm, while Next’s is about £10bn.

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