Food halls return to growth as retailer cuts prices and introduces new ranges
Marks & Spencer has reported a fresh slump in clothing sales but insisted it was “making up for lost time” in the run-up to the key Christmas trading period.
The chief executive, Steve Rowe, blamed the 5.5% decline in like-for-like clothing sales in the first six months of its financial year on supply chain problems and buying errors that meant popular sizes quickly sold out in store and online. This contributed to a disastrous performance from its website, where sales barely grew – an outcome it admitted was “less than planned”.
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