Text size [+][-] Saturday November 21 2009GLOBAL EDITION
Home > Breakingview TV > Marks and Spencer
By Rachel Sanderson
Simply complete all fields and click Submit.
I agree to the terms and conditions of use appropriate to my region.
Marks and Spencer, the UK’s largest clothing retailer, said underlying like-for-like sales fell 1.4% in the 13 weeks to June 27. In general merchandise, underlying sales fell 2.4% while underlying food sales fell 0.5%. Sir Stuart Rose, its executive chairman, reiterated that gross margin would be squeezed by 125 basis points to 175 basis points during the fiscal year as a result of price promotions. M&S will hold its annual general meeting on July 8. The Local Authority Pension Fund has tabled a motion for Rose to accelerate the appointment of a chief executive.
rachel.sanderson@breakingviews.com