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Marks and Spencer sounds the warning cries on the high street

While it is no secret that the former bell weather of the UK retail sector, Marks and Spencer, has been struggling of late it seems that things will get decidedly worse before the get better. Reporting a 6.1% fall in first quarter sales it seems as though even those at the top of the tree are finding life very tough. So what next for the high street giant?

As you might have expected Marks and Spencer has been looking at was of saving money over the last few weeks and decided to cut back on store revamps which should save £300 million this year. However, those who read this site on a regular basis will know that the group recently reviewed the redundancy terms for its staff with speculation that large scale job cuts could be on the way. Today's news further intensifies these concerns and while no job cuts have been announced there is widespread speculation. If Marks and Spencer is struggling then what does the future hold for the rest of the industry?

Christmas is set to be a very bleak affair for consumers and retailers alike this year with finance companies already indicating that they will be cutting down on the level of funding available. Times will certainly get harder before they get better on the high street.

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