Stock shortage dents M&S sales

Marks & Spencer revealed a fall in underlying sales today after admitting it ran out of stock on some of its best-selling lines of womenswear.

The chain, which operates more than 700 stores in the UK where it is the biggest fashion retailer, said like-for-like sales fell 0.7% in the 13 weeks to March 31, disappointing the City after growth in the previous quarter.