M&S about to go down the drain

Most concern centres on Marks & Spencer, which is not due to report officially until January 12 but may decide to bring its announcement forward amid reports of dire trading.

Analysts such as Richard Ratner at Seymour Pierce believe that M&S’s pre- Christmas sales may have fallen by as much as 10%, explaining its decision to hold early “discount days” and to slash as much as 75% off the price of some lines last week.


Next, the fashion retailer, will be the first big retailer to release figures, kicking off the reporting season this week. Marks & Spencer, Tesco and GUS report next week — although last month’s warning from the Financial Services Authority that retailers should not sit on bad news, may force some to bring their announcements forward.