Marks and Spencer has reported disappointing sales in clothing and homeware. Several factors have been cited for a 1.2 percent decline in general
ADVERTISEMENTMarks and Spencer has reported disappointing sales in clothing and homeware.
Several factors have been cited for a 1.2 percent decline in general merchandise sales, which includes clothes that account for about 40 percent of the High Street retailer’s overall sales.
A rainy spring, a refusal to discount, and poor take-up of a new womenswear range have all been blamed.
In its half-yearly statement M&S said underlying profits to the end of September were up by over six percent, but one-off expenses including a stores revamp meant a fall in pre-tax profits by almost a quarter to £216 million (305 million euros).
