Business Services Industry
New slide in sales hits battered British retailer Marks & Spencer.
Knight Ridder/Tribune Business News, September, 2004
By James Ashton, Daily Mail, London Knight Ridder/Tribune Business News
Sep. 20--Marks & Spencer will reveal more gloomy trading this week as it details plans to hand back UKpound 2.3 billion to shareholders.
Chief executive Stuart Rose is expected to say tomorrow that M&S suffered another fall in market share during the summer, although it has fared better in the first few weeks of the autumn season.
Womenswear has been hit hardest by competition from Next and Asda. Leaked figures from analyst Taylor Nelson Sofres show that M&S's share by value of the women's fashion market fell from 14.2 percent to 13.6 percent in the 24 weeks to the end of August.
Next climbed to 5.9 percent from 4.7 percent. Asda recently toppled M&S to...
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