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Article: M & S expected to suffer from downturn
- Article from:
- The Independent (London, England)
- Article date:
- March 30, 2009
- Author:
CopyrightCopyright 2009 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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The Week Ahead
J SAINSBURY put out some surprisingly resilient numbers last
week, but the market is not so bullish when it comes to Marks &
Spencer, which is updating on sales tomorrow. As customers have
traded down in the current environment, M&S is expected to suffer.
A Reuters analysts poll expects sales from those stores open for
at least a year to have fallen by up to 7.5 per cent during the
fourth quarter. The consensus for profits in 2008/2009 is 592m.
The predictions have raised fears among analysts that M & S will
be unable to maintain the 22.5p dividend of last year, and is also
expected to heap pressure on boss Sir Stuart Rose.
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