This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-27482022
The article has changed 5 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Marks and Spencer sees profits fall | Marks and Spencer sees profits fall |
| (35 minutes later) | |
| Marks and Spencer has announced a 3.9% fall in underlying annual profits to £623m. | Marks and Spencer has announced a 3.9% fall in underlying annual profits to £623m. |
| The retailer also said that group sales rose by 2.7% to £10.3bn in the year to 29 March. | |
| Like-for-like UK food sales, which strip out the effect of new stores, rose 1.7%, while general merchandise - which includes clothing - fell 1.4%. | |
| Chief executive Marc Bolland said it had made "solid progress" on its plans to transform the business. | Chief executive Marc Bolland said it had made "solid progress" on its plans to transform the business. |
| Despite the drop in general merchandise sales, M&S said its clothing sales had returned to growth in the final three months of the year. | |
| It said it had also now "refreshed" the womenswear departments in its top 70 stores. | |
| M&S clothing department has been struggling in recent years as sales have fallen. | |
| It hired Belinda Earl, the former chief executive of Debenhams and Jaeger, as head of style in 2012. | |
| Ms Earl was charged with regenerating Marks' reputation among its core, female fashion customers. |