Marks & Spencer reported a 1% fall in annual profits for the year.
This year they made £705.9 million profit before tax, compared to £714.3 million last year.
The fall is the first drop in profits for the retailer in three years.
The glamorous grans remain the key battleground for Marks and Spencer
M&S profits drop is not significant: the real news is their profit prediction u-turn. They don't see consumer confidence returning soon.
M&S announce their first fall in profits in three years. Will the CEO follow the example of Tesco boss Philip Clarke and waive his bonus?