M&S stocks hit by disappointing sales

<p>The share price of Marks and Spencer has fallen today.</p>

Stocks in Marks and Spencer (M&S) fell today (January 6th) on fears Christmas sales at the retailer are not going to meet expectations.

The company was among the worst fallers on the FTSE 100 in the morning session, with the firm's share price slipping by close to two per cent.

M&S stocks were also hit by brokers Citigroup and Bernstein cutting their price targets on the share price, though by 14:15 GMT shares had recovered a little and were down one per cent for the day.

Independent retail analyst Nick Bubb suggested: "The fact that it has not yet brought forward its planned update from Thursday doesn't necessarily imply that everything is fine on the profit front, even though expectations are low and reducing."

Retail rivals such as John Lewis, Debenhams and Next have already revealed their sales figures for the Christmas period, with Next and John Lewis in particular seeing strong sales online.

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