The expected downturn in fortunes at Marks & Spencer has been confirmed by figures released this morning.
The quarterly results published by M&S - for the January to March period - are in fact worse than was predicted by analysts in the last few days.
Sales during the three months fell by 3.4 per cent year-on-year. Food sales dropped by 1.4 per cent, while sales of the chain’s bedrock - clothing - did most damage to morale, sliding by 2.5 per cent.
M&S continues to experience difficulties in the face of increasing and intense high-street competition.
Its management structure has been called into question despite recent broad-reaching changes and the group’s ability to compete with rivals such as Next in the clothing world is now under even greater scrutiny.
