• M&S profits dive by nearly two-thirds as clothing sales slide

    M&S clothing and homewares sales fell by 5.9% in the first quarter. Photograph: Suzanne Plunkett/Reuters Marks & Spencer has reported a 64% drop in annual profits to £176.4m as weak clothing sales were compounded by more than £400m of restructuring costs relating to the new chief executive’s turnaround plan. Chief executive Steve Rowe insisted the […]