LONDON - Marks & Spencer had a 6.1 percent drop in same store sales in the U.K. in the quarter ending Sept. 27. The company’s general merchandise same store sales, which include clothing, also fell 6.4 percent, while same store food sales fell 5.9 percent.
“Consumer confidence remains fragile and the retail environment unpredictable,” said Stuart Rose, chairman of M&S, Thursday. “Consumers are increasingly cautious about their budgets.” Rose said that the company is now taking “a more promotional stance,” and will also lower its capital expenditure for the current financial year, from an expected 900 million pounds, or $1.5 billion, to around 700 million pounds, or $1.2 billion. For the 2009 financial year, Rose said the company expects to spend about 400 million pounds, or $706 million.
"You start one way as a baby, but why shouldn't you be able to choose your own path as opposed to culturally people telling you which way to go?" - Thom Browne at his men's spring 2018 show, where he celebrated gender fluidity. #pfw #wwdmens (📷: @delphineachard)
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)