Marks & Spencer to slash food prices in Irish shops

MARKS & SPENCER is to cut the price of more than 1,000 food items in its Irish shops by an average of 7% as the company responds to fierce competition in the Irish retail grocery market.

Yesterday, Marks & Spencer Group Plc, Britain’s largest clothing retailer, said second-half profit rose 8.5% as it bought more cheaply from overseas suppliers and cut costs to combat faltering sales.

Net income rose to about £320 million (€480m) in the six months ended April 3, from £295 million (€447.5m) a year earlier, a spokesman said.