British retail giant hit by 'sluggish' clothing sales

BRITISH retailer Marks & Spencer, which has branches in Dublin and Cork, has suffered "sluggish" clothing sales in the run-up to Christmas, it was reported yesterday.

The Independent on Sunday said Marks & Spencer's sales of both men's and women's clothes were down and cited sources with access to the company's numbers. However, the company would not comment on the claims, the Independent said. Poorer than expected sales in women's fashion have left the company with too much stock, according to the Independent report.

Sales of men's clothing were lower than expected in October and November, while on target during December.Food sales are "on track," the newspaper said.

Once the darling of the high street, Marks & Spencer may now have to cut prices in the last days before Christmas to shift the stock, the Independent said.

Marks & Spencer won't comment on sales before it publishes figures for the Christmas period in mid-January, spokeswoman Sue Sadler said in an interview.

Marks & Spencer Group plc had its most profitable six months in more than three years in its last fiscal first half as the retailer cut costs and added fashions. Net income for the six months ended September 28 rose 38% to £199 million (316 million).

The retailer has spent a fortune revamping its stores, including those in Ireland, in an attempt to lift what was seen as a tired and old-fashioned image.

It also launched the Autograph "designer" clothing range for women, targeting monied thirty-somethings who weren't bowled over by Marks & Spencer's often conservative twinset styles.