19 Jan Marks and Spencer’s troubles reflect high street struggles
The results are finally in, and what was suspected is now certain: Christmas was better than it has been for a while, but it wasn’t good enough.
That’s the verdict for Marks and Spencer certainly, which not only suffered another bruising quarter for clothing but has suffered the ignominy of falling food sales too. The fact that Christmas made it “better” only serves to underline the fact that all is not well at Marks – and even a celebrity visitor from darkest Peru can’t save it.
This time, however, it’s not just M&S that’s suffering. House of Fraser and Debenhams both struggled and, in the case of the latter at least, it’s hard to see an obvious solution. Even those who had a better time of it – John Lewis, for example – are hardly brimming with optimism.