M&S food sales slip further

MARKS & SPENCER yesterday reported a further deterioration in food sales during the final two weeks of a troubled half-year for the embattled retailer.

The latest update - covering the fortnight not included in a statement on September 21 - showed sales in clothing and home remained steady and that interim profits would be at the upper end of current market expectations.

However, M&S warned that bottom-line results for the six months to October 2 would include £80 million of exceptional charges, including an undisclosed amount for fending off a £9 billion takeover bid by retail entrepreneur Philip Green.