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Marks and Spencer announce 34% fall in profits

When the likes of Marks & Spencer are suffering on the high street there really is no escaping the fact that the UK retail sector is in deep trouble. While the shares have risen on the back of the news this is more to do with how the stock market has picked up of late than the underlying performance of Marks & Spencer. While these figures do not come as a major shock it is always more alarming to see bad news in black and white than the potential for bad news.

Strangely enough the group has actually increased market share in all but the food division although their margins have come under severe pressure with less money in the pockets of consumers. It is this growing trend in consumer spending which is sure to see more and more UK retailers suffering and generate more bad news for the high street.

The only possible upside is the fact that interest rates should be cut later this week, later this year and early next year in a vain attempt to at least try and instil some confidence back into the economy. Whether this works very much remains to be seen.

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