M&S reveals worst performance for three years

Struggling retail giant Marks & Spencer today revealed deepening sales gloom with its worst performance for more than three years.

The high street bellwether said like-for-like sales fell 6.1% in the 13 weeks to September 27 – its worst quarterly performance since January-April 2005.

Executive chairman Stuart Rose warned: “Consumer confidence remains fragile and the retail environment unpredictable. Consumers are increasingly cautious about their budgets.”