M amp S clothing sales drop again
Clothing sales have fallen once more for Marks and Spencer.
Marks and Spencer (M&S) has reported another fall in its clothing sales in its most recent financial results released today (July 9th).
Although it was announced by the firm that its UK like-for-like sales rose 1.8 per cent at its food business in the latest quarter, its clothing, footwear and homewares sales fell 1.6 per cent.
Chief executive at M&S Mark Bolland insisted that general merchandise had shown "some improvement this quarter", but Bryan Roberts, retail analyst at Kantar retail, told the BBC's Today programme, that the company will struggle if clothing sales continue to drop.
"Clothing is the bedrock of the business, particularly womenswear," he said, adding: "If it comes to Christmas and clothing still hasn't recovered, the knives might come out for Mr Bolland."
The share price of M&S is broadly flat in the early stages of today's trading on the back of the news its clothing sales have fallen once more.
At 08:21 BST, very early in the session, its stocks were trading 0.09 per cent higher.
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