Marks and Spencer sees sales fall
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UK retailing giant Marks and Spencer sees like-for-like sales drop 2.2% in its latest quarterly update.
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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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Marks & Spencer is poised to farm out its online retail business, the High Street retailer says.
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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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Marks &amp; Spencer experienced poor summer trading and is expected to announce terms for its Â£2.3bn tender offer substantially below the 400p per share that billionaire Philip Green was prepared to pay to take over the ailing retailer two months ago.
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The company has signalled profits of between Â£285 million and Â£295 million, down on Â£311 million a year ago, following a poor run of sales.
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Business & money: Retailer blames stayaway shoppers and fierce discounting by rivals for decline in sales
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The impact of rising interest rates and bad weather on stores will be seen as Marks & Spencer outlines recent trade.
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UK retail sales fall for the second month in a row in November, the CBI says, but stores remain upbeat about Christmas.
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LONDON : Marks and Spencer, the struggling British retailer, began buying back more than one quarter of its shares in the biggest tender offer ever seen in Britain.
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Business & money: Official data reveals a worse-than-expected fall in retail sales last month
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Boxing Day figures reveal poor sales, but bargain hunters are expected to turn out in force for post-Christmas shopping
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British retail sales fell in October for the first time for three months, official figures showed, raising worries about a subdued start to the crucial Christmas trading period.
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Shares in Burberry sink 11% after it says retail sales were lower than hoped in the last three months of 2007.
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Slow sales in Asia are expected to cut into sales and profits.
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Retail sales in Britain dipped in December from the previous month, falling in the crucial run-up to Christmas, according to official data published Friday.
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Apparel retailer Talbots Inc.  said on Wednesday that quarterly net profit fell, hurt by heavy markdowns and declining sales at its flagship Talbots chain.