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M&S profits drop after weak demand for its clothes

M&S profits drop after weak demand for its clothes

Marks and Spencer profits dropped in the first half of its financial year. Overall, pre-tax profits tumbled by 17% to £176.5m on total sales down 2.1% to £4.86bn. The retailer said that while its food business was ’outperforming the market’, there had been issues in clothing and home. Marks and Spencer is undergoing a transformation plan led by CEO Steve Rowe.

Timothy
Timothy
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