Marks & Spencer shares fall... presumably because of those awful commercials
It has been reported that - somewhat surprisingly - there's been a fall in sales at M&S. They seem so cocky don't they? Like they're always doing well. Apparently, they've muttered something about 0.7pc decline in sales, which compared to a third quarter rise of 0.5pc, is a sign that the high street is still struggling.
M&S predicted that they'd be showing signs of growth, but sales were worse-than-expected, right across the board. You have to assume that people aren't shopping with the famous chain because, ostensibly, they've got some of the most jarring, irritating television commercials on the planet.
Dannii Minogue doing and egg-and-spoon race? Twiggy stood in cardigans like a Daily Mail supplement? Myleene Klass existing at all. It's enough to make you want to pull all your insides out through your tear ducts.
Marc Bolland, the M&S chief executive, said the company was confident of delivering full-year profits, because he's arrogant like that.
Bolland said: "While the short term trading outlook continues to be challenging, we are focused on investing in line with our plan and are making strong progress against our goal of becoming an international, multi-channel retailer.” With stores opening in India, China and the Gulf, M&S are still casting their net wide, like colonialists they are. He added: "International sales performance was impacted by continued macro-economic weakness in the Republic of Ireland and Greece, and the announced restructuring of our Central European business."
M&S shares fell 3pc in early trading and its all Myleene Klass' fault.