Blog: Dean BestM&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.


Sainsbury's pulls the price lever

Sainsbury's, the UK's second-largest grocer, has set out plans for lower prices on a range of products, a move announced amid signs of pressure on its market share....


Intermarche broke rules with Nutella promo, French watchdog says

The pandemonium in stores of Intermarché as shoppers scrambled to grab jars of cut-price Nutella went viral - but the country's competition watchdog has announced the French retailer broke rules on se...


Big Food in investor spotlight this week at CAGNY

The senior management of a number of the major food manufacturers operating in the US will be in Florida this week for a key date on investor calendars....

Forgot your password?