- 4 updates
Jasmine Birtles, a financial expert, spoke to ITV Daybreak about the Marks and Spencer clothing sales slump which was announced yesterday.
She said Marks and Spencer have been designing for a woman that "ceases to exist" for a number of years.
Marks and Spencer have revealed a bigger than expected sales slump in clothes over Christmas.
It comes just a day after high street retailer Jessops announced 2,000 jobs are at risk after going into administration.
In contrast, retail giants John Lewis and Next reported strong sales growth over the Christmas period.
The M&S group said that it was cautious about the year ahead, with continued pressure on consumers' disposable incomes.
Marc Bolland, Marks & Spencer chief executive, said the company's clothing results were "not yet satisfactory":
Marks & Spencer has reported a 1.8% drop in like for like UK sales, despite record food sales over Christmas.
Like for like sales, which excludes new store openings, for the 13 weeks leading up to December 29 were as follows:
- UK sales: fell by 1.8%
- Food: rose by 0.3%
- General Merchandise: fell by 3.8%
Total UK sales, which includes new store openings, for the 13 weeks leading up to December 29 were:
- UK sales: rose by 0.3%
- Food: rose by 2.7%
- General Merchandise: fell by 2.2%