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.
Hain Celestial, under the scrutiny of the investment community in recent months and facing some challenges in its domestic market, has announced another shuffling of its management pack....
FrieslandCampina, which today served up higher profits but lower sales for 2016, is ready to offload the last non-dairy business owned by the Dutch cooperative giant....
To follow on from our earlier notice and after some hard work from our technical team, just-food is back live after today's power outage....
Much of the UK has felt the impact of Storm Doris today - and just-food's head office has been no exception....
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