January 26 2015 Latest news:
Thursday, January 9, 2014
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.
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.
The boss of Brandbank expects to accelerate the firm’s growth plans after it was bought out by the American consumer analysis company, Nielsen Holdings.