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Ad spend slashed at M&S

Marks & Spencer is understood to be slashing its television advertising, as part of a review of its media spend next year.

Last year the high street retailer spent £144.6 million on marketing, which included spend on its TV and print campaigns and PoS material.

An M&S spokeswoman said: "We can’t confirm our marketing plans for the next financial year, but we are reviewing our media spend, which is a prudent thing to do in the current climate."

M&S will go ahead with its Christmas TV campaign, but it is understood that its TV advertising will be significantly reduced next year.

Last month, M&S rival Next said it was dropping its Christmas TV adverts and cutting back on seasonal staff.

The chain spent an extra £18m on advertising last year, but chief executive Simon Wolfson admitted that the ads did not result in a big sales increase.

This week, M&S said it had begun a consultation process with staff over cost-cutting redundancies, after reports that the retailer would cut head office jobs across its property and store design departments.

Gap is also dropping its TV advertising as part of the business’s drive to manage costs and improve performance.

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