Marks & Spencer hit by poor clothing sales over Christmas
Graham RuddickM&S said that like-for-like sales in general merchandise, primarily clothing, fell by 3.8pc, worse than even the most pessimistic analysts had predicted. Like-for-like food sales rose 0.3pc, which was also below expectations.
The trading update for the 13 weeks to December 29 was due to be issued on Thursday morning. However, M&S published the figures at just before 8pm on Wednesday and then hastily convened a management conference call after the like-for-like sales data was leaked to Sky News.
Mr Bolland insisted the early release of the results – which is unprecedented for a blue-chip FTSE 100 company – was “not a profits warning or panic on our side” and was issued after M&S took advice from its brokers and lawyers.
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"Marks & Spencer hit by poor clothing sales over Christmas", La Clé des Langues [en ligne], Lyon, ENS de LYON/DGESCO (ISSN 2107-7029), octobre 2013. Consulté le 03/10/2023. URL: http://cle.ens-lyon.fr/anglais/archives/archives-revue-de-presse/marks-spencer-hit-by-poor-clothing-sales-over-christmas