Trading fears grow over M&S

BELEAGUERED High Street stores giant Marks & Spencer is considering whether to break with tradition and update investors on current trading with its first-half results on Tuesday amid fears over its outlook.

The retailer's sales are believed to have fallen sharply over the past month and analysts are worried that it may struggle to meet full-year forecasts.

Stockbroker Seymour Pierce analyst Richard Ratner said: 'Well-informed sources are suggesting that M&S has been trading badly recently.'

Home furnishings sales are said to have fallen 27% last week, with women's clothing down a dismal 18% and menswear down 12%.

On 12 October, Marks said underlying clothing and home sales fell 7.6% for the quarter to 2 October.

It forecast that first-half profits would fall from £325m to between £285m and £295m. Add in £80m of exceptional charges and the number looks even worse.