Marks & Spencer Christmas sales disappoint
In this new period of renewed hope for the UK retail sector a major setback occurred today with news that Marks & Spencer festive sales were up by just 0.8% in the three months to Boxing Day. This is a far less impressive performance compared to the likes of John Lewis and Next and today we saw the share price of Marks & Spencer fall on investors disappointment. So what does this mean for the UK retail sector?
Yet again, just as we seemed to be building up a head of positive steam there has been a major setback for the sector. It would appear that impressive Christmas sales from the likes of John Lewis and Next have not been replicated across the board and we could also see more patchy results in the weeks and months ahead. It is disappointing to say the least, especially when you consider that Marks & Spencer was for many years the bellwether of the retail sector, and many analysts will have to revisit their forecasts for the current quarter.
Whether the Marks & Spencer figures were a "blip" in a generally positive trend in the sector remains to be seen but more and more investors are now sceptical about suggestions that the retail sector is back on the growth track.
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