M&S announces disappointing results

Struggling
retailer Marks and Spencer today announced disappointing results.

Its
sales are down 2.6 per cent for the 14-week period to 7 July. Sales of
clothing, footwear and gifts were down by 9.1 per cent while home performance
declined by 1.5 per cent.

M&S’s
food business reported sales growth of 5.9 per cent.

It
claimed that early feedback from customers and fashion experts on the Autumn
clothes collection had been positive.

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Furthermore,
a new smaller store format based on food is being trialled this month in
Surbiton and Twickenham, south London.

Earlier
this year, M&S caused controversy by announcing that it would close its
European stores.