Poor sales hits M&S shares
Updated on 09 January 2008
This is not just any sales slump - this is a Marks & Spencer sales slump.
As the retailer revealed its worst quarterly results for more than two years, shares in M&S plummeted 18 per cent on the news, reflecting gloomy Christmas sales figures across the high street.
Supermarkets are the only stores which appear to have done well. But the general gloom will increase pressure on the Bank of England to announce another interest rate cut when it meets tomorrow.
