LONDON — Marks and Spencer Group plc has become the latest victim of the deepening credit crisis here, with a 43.6 percent decline in first-half profits.
The store, Britain’s largest clothing retailer, said Tuesday that profits in the six months to Sept. 27 fell to 221.7 million pounds, or $430 million, from 393.3 million pounds, or $763 million, on the back of weak sales and declining consumer confidence. All figures have been converted at average exchange rates for the period.
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)