UK: M&S Womenswear Shows No Sign Of Turnaround - Paper
M&S chairman, Luc Vandevelde, faces more censure on Wednesday at the ailing retailer's AGM, reported the Telegraph. Despite management changes and new clothing lines, womenswear sales continue their freefall even as rivals such as Next report an upturn in fashion spending. Mr Vandevelde is expected to announce that like-for-like sales in general merchandise are down by eight per cent for the 14 weeks to July 7 compared with the same period last year. Food sales are on the up however, news which should soften the blow for M&S shareholders.
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