Wednesday, May 25, 2016

Marks & Spencer FY16 Profit Down, Warns On Profit Ahead; Stock Dips

Shares of Marks & Spencer Group plc were losing around 8 percent in the early morning trading in London, after the retailer reported lower profit in its fiscal 2016, hurt mainly by weak results at clothing & Home segment and lower UK LFL sales. Looking ahead, the company warned about profit, and said it sees a similar sales trend in fiscal 2017.

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