Things looking rosy for M&S?

Good news for Marks&Spencer shareholders this morning as profits smashed through the £1 billion barrier. A big pat on the back must surely be on the way for Sir Stuart? Maybe not. The retailer failed to meet performance targets and so store staff will share a smaller bonus pot this year, while Sir Stuart will miss out on his altogether. “If you don't meet the target, it's tough luck. I don't like it any more than you,” he said. But Sir Stuart must be quietly rejoicing having silenced his critics. Surely having delivered record profits while managing to curb bonus payments at the same time is just the man shareholders would want as both chairman and chief executive?