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M&S sales and profits fall as store closure plan adjusted | Business News

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Marks & Spencer (M&S) has made a series of adjustments to its store closure programme as annual results show sales and profits falling.

Figures for the year to 30 March showed underlying pre-tax profits – a measure of profitability from its day-to-day trading – falling 10% to to £523.2m.

It reported like-for-like sales at its food halls declining by 2.3% over the 12 months – by 1.5% when the timing of Easter was factored in.

Clothing and home sales were 1.6% lower.

Total revenue was 3.6% lower – hit by the impact of store closures as the chain looks to shut more than 100 sites.

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