Summary
AS we wrote a couple of weeks ago, it's been a mixed Christmas for the high street. It's also been a distinctly mixed Christmas for Sir Stuart Rose, chairman of Marks & Spencer.
On New Year's Day, he was knighted for services to retail. Then, last week, Marks & Spencer released a bleak Christmas trading update. Its shares plummeted 19%, wiping more than pounds 1.5bn of the company's value. The trading update must have made uncomfortable reading for Sir Stuart. Over the past quarter, M&S's like-for-like sales were down 2.2% on the previous year, below expectations, and food sales were particularly poor, with like-for-like sales falling 1.5%.See the full content of this document
Extract
Rewards Outweigh the Risks ; in Association with Rbs
M&S's revamped stores showed slower growth than the previous quarter. And even though sales were below ex...
See the full content of this document
Sponsored links
