Marks to cut prices after weak Christmas

Marks & Spencer said today that it would roll out more discounts in a bid to pull in customers after weak homewares sales dragged on its Christmas performance.

M&S, which has more than 700 stores in Ireland and the UK, recorded a 1.8% like-for-like decline in general merchandise sales, excluding VAT, in the 13 weeks to December 31, while food sales were up 3%. The London market forecast a 1.5% decline and 1.5% increase respectively.