Marks and Spencer profits fall for third year

Marks and Spencer profits fall for third year

marks and spencer leading ladies profits fall

Despite enlisting some of the hottest, most influential and most famous A-listers for its ad campaigns over the past 12 months, it’s just been revealed that Marks and Spencer’s profits have once again dropped for the third year in a row.

While the food sales are on the up, it’s the clothes which are reportedly dragging the brand down…

“General merchandise is not yet satisfactory,” said chief executive Marc Bolland. “But a lot of the heavy lifting has been done. Rising profit takes a while to follow. We are improving step by step.”

Marc blamed things like “unseasonable conditions” and “high levels of promotional activity” for the dip in sales, although M&S fans should know that profits did in fact rise in the last three months of the year which is a nice and positive piece of information to retain.

So what does this all mean for the brand and the future of the British high street as a whole? Only time will tell, although Marc Bollard doesn’t think we should worry!

[BBC]

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Powered by sweet Captcha