Food profits falter at M&S
Ailing high-street retailer Marks & Spencer could be in more trouble than at first thought, after figures released to the City yesterday revealed plunging profits in its food business.
LONDON (Brand Republic) – Ailing high-street retailer Marks & Spencer could be in more trouble than at first thought, after figures released to the City yesterday revealed plunging profits in its food business.
Operating profits for the division are said to have fallen from £247m in 1996 to £137m in 1999, and could shock investors who thought the company’s poor performance was down to its clothes division.
The figures are contained in the Competition Commission’s report on the supermarket sector released this week. It also said margins in M&S’s food businesses halved between 1995 and 1999 from 10% to 5%. (FT.com)
Latest jobs Jobs web feed
- Marketing Manager - Inbound Tourism - Dubai Based MCG Associates Tax Free Competitive Package, Dubai, UAE
- Senior Account Manager - Saudi Arabia - PR MCG Associates Tax Free Package, Riyadh. KSA
- Digital Advertising Manager - High End Lifestyle Ultimate Asset £43000 - £50000 per annum + commission & excellent benefits, London
- Media Exec - Leading Media Agency - Mobile Sector Ultimate Asset £22000 - £26000 per annum + Amazing Benefits, London
- Biddable Paid Social Senior Executive - Top 10 Agency Ultimate Asset £25000 - £30000 per annum + Amazing Benefits, London
- Account handler ready for an immediate start? Freelance, Contract or Temp to Perm? Barker Graves Up to £250/day, central london