M&S to axe 1,200 jobs amid worst sales for nine years

Ailing high street giant Marks & Spencer today unveiled its worst sales figures for almost a decade and plans to axe up to 1,230 jobs.

M&S said UK like-for-like sales tumbled 7.1% in the 13 weeks to December 27 - its biggest sales collapse since July-September 1999 – despite heavy price-cutting in the run-up to Christmas.