M&S clothes sales at 10 year low

8 July 2016
M&S clothes sales at 10 year low

Clothing sales at Marks and Spencer have been terrible for quite some time, with the business only performing well in their food courts.

The latest figures show that M&S' clothes sales have dropped 8.9% during the first quarter, sinking to a 10 year low.

M&S say that cutting promotions, and weaker consumer confidence are the reasons for this, but many will argue that the real problem the store faces is that their clothing ranges are just awful.

Chief executive Steve Rowe, has said that M&S are looking to cut prices while they are "operating in uncertain times", looking at the Brexit decision, and the resultant lack of confidence in shoppers.

"We knew our actions would reduce total sales but we are seeing some encouraging early signs," he added.

In early trading, Marks & Spencer's shares were down 2.5% to £2.86.

The company have been tinkering with a lot of things, and one of them was to get rid of the music in stores, which you think would be the least of their concerns, but there you go.

TOPICS:   High Street News

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