Blog: M&S stumble sounds retail warning
Dean Best | 9 January 2008
Perhaps the much touted turnaround at UK retailer Marks & Spencer is not complete after all.
M&S, one of the flagship stores on the UK high street, said today (9 January) that UK sales, on a like-for-like basis, had dipped 2.2% for the three months to 29 December. Shares in the retailer had tumbled by 18% this afternoon on the news.
Food, one of the central planks of the recovery at M&S since darker days earlier this decade, suffered, despite heavyweight ad campaigns over Christmas.
Sales in M&S food halls dipped 1.5% over the period and, with concerns over consumer spending in the year ahead, there will be questions over whether they can bounce back.
And the company's stumbling performance should sound a warning to the rest of the UK retail sector.
The UK's competition regulator has given the all-clear to Hain Celestial's bid to buy UK food and beverage group Orchard House Foods, nine months after the US group announced the deal....
Hershey made an unusual announcement today (20 September), sharing its own sales data for the last four weeks to assuage any possible investor concern over figures released by Nielsen....
As the UK starts to ponder what kind of a relationship it wants with the European Union post-Brexit, EU leaders have been lining up to warn that Britain will not be allowed to "cherry pick" deals and ...
Low food prices continue to hold back inflation rates in the UK as the supermarket price war continues in the face of rising import costs. ...
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