M&S suffers clothing sales slump

Marks and Spencer store. Photo: Tim Ireland/PA Wire Marks and Spencer store. Photo: Tim Ireland/PA Wire

Thursday, January 9, 2014
12:21 PM

Marks & Spencer suffered a tenth successive quarterly like-for-like sales decline in its beleaguered homewares and clothing division today as they slumped by 2.1pc.

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A 0.5pc improvement in the eight weeks to Christmas Eve was not enough to save the beleaguered retailer from the deteriorating overall performance for general merchandise.

The group admitted that a series of discounts to drive seasonal sales - which included a pre-Christmas “Mega Day” with reductions of up to 30pc on clothing lines - would hit profit margins when full-year results are reported later this year.

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