Half-year profits at Marks and Spencer have fallen 34% as the weakening economy has hit consumer confidence.
The retailer said pre-tax profit stood at £297.8m in the first half of the financial year, down from £451.8m a year earlier.
Sales of food and clothing both fell more than 5% during the period.
M&S boss Sir Stuart Rose said trade had been volatile in October and he was cautious about the rest of the year given the recent financial crisis.
No comments:
Post a Comment