Marks & Spencer is set to reveal a dramatic decline in
profits for the first half of 2008 following a fall-off
in sales at the high street giant over the last three
M&S is set to announce that second-quarter sales in both
food and non-food have dipped by more than 7.5%,
according to The Independent.
H1 profits are now thought likely to dip below ?300m
from a figure of ?452m for the equivalent period last
year, with the numbers set to be unveiled on Thursday.
M&S shares last week fell once again after broker Morgan
Stanley indicated that a dip in its first-half
performance was expected.