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M&S fashion sales expected to drop 3.7% in third quarter

Marks & Spencer is expected to announce a 3.7% drop in general merchandise sales for the three months to September 30 on Wednesday (November 5) as the warm weather stunted fashion sales.

The retailer is understood to have been hit hard by the Indian summer, with coats and knitwear remaining unsold. The drop in sales will be worse than the 1% fall previously forecast.

Analysts also fear M&S’s food business has slowed down and will post just 0.2% growth for the quarter. Under lying pre-tax profits are expected to drop 4% to £252m as a result of the slowdown.

M&S’s fashion sales have declined for 13 consecutive quarters. For the first quarter of 2014, fashion sales fell 1.5%.

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