UK: Marks and Spencer - still going down - COMMENT (Members)
M&S's sales have continued their decline in the 14 weeks to July 7, falling by 2.6%. The only highlight for the beleaguered UK chain has been in food sales, which grew 5.9%. Sadly, this did little to compensate for the 9.1% drop in clothing, footwear and gift sales. Plans to develop a set of new food-only stores are looking more and more appropriate, allowing M&S to place more emphasis on one of its major strengths.
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