M&S Reports Declining Sales, Axes Head Of Food

Upmarket food retailer Marks & Spencer has issued a profits warning after experiencing a 'marked deterioration in sales' in the 13 weeks to June 28. The firm reported that like-for-like sales during the period fell by 5.3% across the business, with clothes, homeware and food sales all falling significantly. These poor results caused the Marks & Spencer's share price to slump by 25%, and the head of the firm's food division has been

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