LONDON — Citing an “increasingly promotional marketplace,” Marks and Spencer Group plc, Britain’s biggest clothing retailer, said Tuesday that first-half profits fell 4.5 percent to 242.8 million pounds, or $393.3 million, from 254.4 million pounds, or $412.1 million, in the same period last year.
Revenues in the six months to Oct. 1 rose 2.4 percent to 4.68 billion pounds, or $7.58 billion, from 4.57 billion pounds, or $7.4 billion, in the same period last year. All dollar figures have been calculated at average exchange rates for the period. The company’s shares closed down 0.8 percent on the London Stock Exchange Tuesday following the results.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)