M&S announce first fall in profits for three years
Marks & Spencer boss Marc Bolland slashed sales targets for the next year as he announced the first fall in profits for three years.
- In November 2010, the group set a target to grow revenues between £1.5 billion and £2.5 billion over three years
- This has been cut to £1.1 billion and £1.7 billion
- The company will invest £200 million less in UK stores over the next two years
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