British retailer Marks & Spencer profit dragged down by falling clothing sales
Clothing and home sales at 35-year-old M&S fell 5.5%, hurt by the availability and supply chain issues
06 November 2019 - 19:48
London — Britain’s Marks & Spencer (M&S) reported a 17% drop in first-half profit, dragged down by falling clothing sales, but said it was confident it could fix its problems and return to growth, sending its battered shares higher.
Shares in the 135-year-old M&S, one of the best known names in British retail, were up 3.2% before midday, paring losses for the year to 35%, after it forecast improved second-half trading and said its latest attempt at a turnaround was making progress...
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