M and S expected to unveil poor clothing sales

Retailer Marks & Spencer was today expected to show that disappointing sales at its clothing division had continued into its most recent quarter.

Analysts are not expecting a major improvement in sales for the period to the end of March after the fashion department’s like-for-like figure dipped 3% over the Christmas season.

A lacklustre performance is likely to put pressure on chief executive Roger Holmes, who has seen last year’s recovery start to lose its sparkle.

Investec Bank believes today’s update will show a 3% fall in clothing and footwear sales, although this is worse than other predictions in the City.

Looking ahead to the new financial year, Investec said: “We do not expect the poor sales trends in clothing to reverse until the middle of the year.”

Marks & Spencer is expected to use today’s update to outline strategic changes for its clothing division, which is now headed by former Selfridges chief executive Vittorio Radice.

He was appointed following the Christmas update, when clothing sales were hit by a poor performance in womenswear, particularly knitwear, coats and suits.

Today’s fourth quarter figures are expected to show that food sales remain in positive territory, helped by the roll-out of Simply Food outlets.