M&S profit slides as new team settles

British retailer Marks & Spencer reported a dip in first-half profit after a sales decline eased in the second quarter, and as a new management team started to settle.

6th November, 2012
M&S profit slides as new team settles
Marc Bolland, CEO of M&S

British retailer Marks & Spencer reported a dip in first-half profit after a sales decline eased in the second quarter, and as a new management team started to settle.

Underlying pretax profit fell 9.7 per cent to stg£296.8 million in the six months to the end of September, the retailer said today, blaming poor weather and weak consumer confidence.

That was above the median estimate of stg£280 million pounds from 13 analysts surveyed by Bloomberg.

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