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Rose gloomy as M&S profits slashed 19 per cent
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MARKS & Spencer's tale of woe continued yesterday with annual
group profits falling 19 per cent, and chief executive Stuart Rose
forecasting no early upturn.
Unveiling a fall in profits to GBP 618.5 million from GBP 763.2m
in the previous 12 months, Rose said: "Conditions are tough. You have
seen the statements from other retailers. We are in for a difficult
six to nine months."
Same-store sales slid 5.1 per cent in the year to 2 April, for
which the final dividend rises 5.6 per cent to 7.5p (7.1p).
Rose said M&S's clothing market share in the UK had fallen half a
percentage point to 10.5 ...
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; ...the likelihood that M&S would cut its dividend...ending the day 8 per cent or 17p higher at 227.25p. M&S's same-floorspace...homewares, fell 6.4 per cent in the 13 weeks to...food bills snubbed M&S's premium-end goods, with sales down 5.9 per cent over the ...
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; ...announced a 19.6 per cent jump in interim pre-t...remained much to do", M&S chief executive Stuart...trading quarters. M&S total sales rose 0.6 per cent to GBP 3.65 billion...sales fell 9.2 per cent in the first quarter...they rose 0.2 per cent in the second ...
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(1) M&S IN CREDIT CRUNCH CRISIS(2) Not just any crisis, this is an M&S food crisis ; (1) Shares plunge 22 per cent after retail giant's dire warning to City(2) Food boss resigns as customers 'hurting' over expensive products
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CHRISTMAS IS CANCELLED; CREDIT CRUNCH CRISIS Expert fears the worst festive season for 30 years M&S victim of spending cuts.(News)
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M&S shares tumble 13 per cent on profits warning
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