M&S reveals falling sales and profits amid overhaul

Retail giant Marks & Spencer has posted a 10% drop in annual profits due to falling sales across its clothing arm and food halls as a sweeping overhaul takes its toll.

The high street bellwether posted underlying pre-tax profits of £523.2 million for the year to March 30, down from £580.9 million the previous year.

Boss Steve Rowe said there were “green shoots” of a turnaround, but added that performance was not consistent and had been hit by its store...
source: Lancashire Telegraph

2019-05-22 10:32
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