By  on May 22, 2019

LONDON — Marks & Spencer reported sales and profits were down in the financial year as it shifts shape, from its shrinking store footprint to its smaller clothing sizes and plans for fewer collections, to its emphasis on digital through a new deal with Ocado.

On Wednesday, the British retailer said revenue was down 3 percent to 10.38 billion pounds in the 12 months to March 31, with profit before tax and adjusting items falling 9.9 percent to 523.2 million pounds. Profit after tax climbed 28.2 percent to 37.3 million pounds, due to a decrease in adjusting items including operating costs.

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