Marks & Spencer posts weak figures as clothing sales slump
Published on Jan 10, 2013 9:23 AM
LONDON (AFP) - British high street mainstay Marks & Spencer on Wednesday announced an unexpectedly deep slump in clothing sales over the Christmas period.
The retailer suffered a 3.8 per cent fall in sales of non-food items in the 13 weeks up until Dec 29, leading to a worse-than-expected 1.8 per cent fall in overall like-for-like sales.
Chief executive Marc Bolland admitted in a statement that the non-food sales results were "not yet satisfactory".
He added that measures being taken by the new management team "will address" the weak figures.
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