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M&S sales and profits expected to fall

Marks & Spencer is expected to announce a drop in sales and profits later this week, as tough trading continues to bite.

The retailer is revealing first half-year results on Wednesday.

Profits are expected to fall by around 7% to £203m, This is Money reports, with underlying earnings dropping by as much as 14% year on year.

Clothing and home sales are predicted to drop 1.2% on this time last year, and food sales are expected to fall by 2% on 2017.

M&S is closing stores, warehouses and is investing in technology as part of an ongoing transformation programme.

Readers' comments (1)

  • Survival plans are not transformational. They are reactive. This retailer has worn rose tinted glasses since Rose.

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