M&S weaker-than-expected sales disappoint market
Like-for-like sales fell 3.4%, but the company said profits for the year would remain on target, thanks to effective cost control. Analysts expect the company to report full-year profits in the region of £760 million (€1.1 billion) next month.
"Sales this quarter are clearly not good enough," said chief executive Roger Holmes. He said the group would take action to correct the poor figures by cutting prices for women's clothing to improve their appeal, as well as broadening product ranges and developing more attractive stores.
