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Marks & Spencer and Tesco to report Christmas sales drop

Two of the UK’s biggest retailers, Marks & Spencer and Tesco, are expected to report a slump in sales over the festive period later this week.

M&S is expected to report a 3% drop in sales of its general merchandise arm over the last quarter on Thursday (January 8) as clothing sales continue to struggle at the retailer. The fall will mean M&S will have reported 14 consecutive quarters of falling fashion sales.

According to The Telegraph, analysts at Deutsche Bank, Tesco’s house broker, have forecast that the company will report a 5% drop in like-for-like sales for the three months to November 30 and then a fall of 4.3% for the period since then, including Christmas.

This would be an improvement on the 5.4% fall in sales during Tesco’s last quarter, but still underlines the battle facing chief executive Dave Lewis.

Next, on the other hand, reported a 2.9% increase in sales last week for the two months to Christmas Eve and said profits are likely to be ahead of the revised guidance announced at the end of October.

Readers' comments (2)

  • M&S now looks like a 'cheap' BHS for clothing.

    A new layout in White City is all very well, but they have more than 700 others.

    In my opinion, too many head office managers that clearly don't visit stores (their own or competitors).

    Christmas TV ads looked good, but not targeting their right audience.

    Screwed up logistics over Black Friday.

    I could go on.

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  • M&S stores generally aren't good enough and any of their management who thinks otherwise either hasn't visited their stores and/or has no idea of what they're doing. I'm amazed that they still on the whole get away with it.

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