M&S targets cut amid profits fall

Marks & Spencer boss Marc Bolland slashed his sales targets for the high street retailer today as he unveiled its first fall in profits in three years.

Despite efforts to pull in customers with celebrity-laden advertising campaigns, featuring the likes of actresses Joanna Lumley and Rosie Huntington-Whiteley and actor Ryan Reynolds, like-for-like sales of general merchandise fell 1.8% in the last year.