M&S post worst trading results in three years
Marks and Spencer sales plunge.
Marks and Spencer have posted the worst trading results in three years, with clothing and homeware down 6.8 per cent. Food sales in the UK however rose 0.6 per cent in the last quarter.
The company also announced its head of general merchandise, Kate Bostock would step down, to be replaced with Steve Rowe, who is currently an M&S director.
The company said that clothing sales had been affected by stock issues, as well as the wet weather. In the first half of the year, M&S said it had run out of some of the best selling womenswear. However it said it had since improved its "buying and merchandising" skills in time for autumn.
The retailer also said that international sales had improved, rising 0.9 per cent.
"Our key international markets in India and China continued to trade strongly, with double digit growth" it said.