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Drapers Share Monitor - M&S up against tough comparables

Marks & Spencer is expected to deliver mid-single digit sales growth for the year at its results next week.

Seymour Pierce analyst Richard Ratner said comparables had been tougher, meaning growth would slow to 4% to 5% for the final quarter to March. But he said full-year pre-tax profits were likely to rise to £960 million, tipping over the £1 billion mark next year.

Teather & Greenwood analyst David Stoddart said he expected profits of £945m, below the current consensus of £966m. Shares were up 5p to 735p.

Sports Direct's shares continued their slide to an all-time low of about 205p, before bouncing back to close at 217.25p on Tuesday.

Sales at branded fashion supplier Slimma fell 17% to £9.3m and pre-tax profits dropped from £883,000 to £225,000 for the 26 weeks to March 30, as retailers reined in autumn ordering. Shares fell 9.5p, to 39.5p.

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