Marks &amp; Spencer Says First-Half Earnings Fell as Much as 12%
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Marks &amp; Spencer Group Plc, the UK&#39;s largest clothing retailer, said first-half earnings fell as much as 12 percent after sales declined for a fourth straight quarter.
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Marks &amp; Spencer, the beleaguered high-street retailer, today announced a major management shake-up as it unveiled its first half results and said trading had become tougher since its last update in early October.
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High Street retailer Marks & Spencer  reveals a major management shake-up as it reports a fall in half-year profits.
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Business & money: Marks & Spencer's womenswear business has lost market share in the weeks since Christmas as shoppers' love affair with Twiggy fizzles out
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LONDON -- Troubled grocery chain J Sainsbury PLC, Britain&#39;s third-biggest supermarket retailer, said Monday it expected to announce a big drop in profits for the first half of this year.
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British drinks giant Diageo reported a small fall in annual headline profits before tax, which were crimped by the strength of sterling.
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London equities fell on Wednesday after Marks & Spencer reported its worst quarterly sales performance for two and a half years.
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Shares in UK music group EMI plunge 12% after it gives its second profit warning in just over a month.
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Marks & Spencer reports a drop in quarterly revenues, but says sales of clothing and home goods are now improving.
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Higher ingredient prices and restructuring costs pushed General Mills&#39; first-quarter earnings down 19 percent, the cereal giant reported Tuesday.
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Marks &amp; Spencer, reporting its fourth straight quarter of falling sales, says food sales slipped slightly in the last two weeks of September but clothing was steady.
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LONDON: Marks &amp; Spencer has announced a top-level shake-up, as it revealed a deterioration in trading conditions and posted a first-half profit in line with expectations.
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First-half profit at J Sainsbury has tumbled almost two thirds as Chief Executive Justin King battles to regain market share and restore financial health to the country&#39;s third-largest foodseller.
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Net income at US bank Lehman Brothers fell a smaller-than-expected 12% in the fourth quarter to $886m (Â£435m).
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London - Marks and Spencer, the struggling British retailer, on Monday began buying back more than one quarter of its shares in the biggest tender offer ever seen in Britain.
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Bad weather and interest rate hikes are hampering Marks & Spencer's recovery, according to reports.
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MARKS &amp; Spencer yesterday recorded its fourth quarter of falling sales in a row, just a day before potential suitor Philip Green is expected to report an increase in full-year earnings at rival BhS.