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.
Danone completed its US$12.5bn acquisition of WhiteWave Foods this week. The move will roughly double Danone's presence in North America, where WhiteWave is a top four dairy player. ...
Premier Foods plc revealed today (28 March) it has secured a deal with its pension scheme trustees that will see the UK food maker reduce its pension burden....
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....
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