Marks and Spencer Group PLC (LSE:MKS) shares strutted their stuff at the top of the FTSE 100 leaderboard on Wednesday on the back of a positive reception for a new womenswear launch and encouraging industry data on grocery sales.
The clothing and food chain is banking on further successes from its new womenswear range to help with the comeback from the cyberattack earlier this year.
A showcase of the new collection was shared in the run-up to London Fashion Week and some 'brat' looks inspired by popstar Charlie XCX seemed to receive a warm welcome in the press, while other industry titles flagged that a former Primark director has been appointed as commercial and operations director for fashion, home and beauty.
Furthermore, NielsenIQ data showed grocery sales growth of 8.5% in the past 12 weeks.
Clive Black at Shore Capital said this was "a bit ahead of what we would have expected", also noting that about a third of the Ocado Retail joint venture's sales are M&S brand too, which are not included in this score.
Following the cyber disruption of April, he said M&S's grocery business now appears to be "going very well" with healthy market share gains that support forecasts for a "robust" second half.