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M&S slows decline but continues to underperform

Marks & Spencer has slowed the decline in clothing sales, according to figures from Kantar Worldpanel.

The retailer’s clothing sales have fallen 0.9% year on year in the 24 weeks to July 7, compared with a 3% fall in the 24 weeks to June 9.

However this comes against a backdrop of better performance all round, which shows that M&S is still underperforming the market.

In the 12 weeks to July 7, the clothing market was up 3.2% year on year, compared with a 0.1% increase in the 12 weeks to June 9.

According to the Financial Times M&S’s market share has fallen 19 basis points year on year, compared with a 38 basis point decline in the 24 weeks to June 9.

Yesterday it emerged that M&S will close four stores in the Republic of Ireland with the loss of 180 jobs.

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