Britain's biggest clothing retailer Marks & Spencer Group Plc (M&S) has posted lower fourth quarter results as it continues to lose ground to its competitors.

For the quarter, the company posted a 5.2 per cent year-on-year drop in non-food sales, which includes clothing and its newly revamped homewares range.

CEO Roger Holmes said he expected M&S to have lost clothing market share for the second consecutive quarter.

"Sales this quarter are clearly not good enough," he said.

"We are taking action on a number of fronts to accelerate the transformation of the business and deliver improved performance."

According to reports, M&S is losing ground in the formalwear market to apparel retailer Next Plc, while supermarket chains like Asda are eating into the company's children's wear offering.