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M&S blames 'restricted spending on high street'

24th July 2008, Page 47
24th July 2008
Page 47
Page 47, 24th July 2008 — M&S blames 'restricted spending on high street'
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MARKS AND SPENCER'S profit warning in early July sent chills down the spines of many analysts, following as it did on the heels of BHS and DSG International's earlier in the year. DSG, the second biggest electronics retailer in Europe, operates Currys and PC World.

M&S said its sales of general merchandise were down 6.2%, food sales down 4.5% and clothing 3.6%. The retailer said it believed that all retailers must be experiencing the same problems of economic slowdown and restricted spending on the high street.

The next report from the Retail Think Tank, a select group of independent commentators, will be out in August.

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