If you want a health check on Britains retail trade -take the temperature of M&S. Things are bad, with the the worst profits for years reported today and the main problem being in clothing...especially women's.
Not since the start of the credit crunch in 2008 have things looked this grim for M&S. Yet many of it's rivals continue to report sales rises. Today the British Retail Consortium said there has been overall sales growth of 0.1% up to June.
To compound its problems, last month M&S lost its crown as the most highly valued clothing retailer, to Next. All of which suggests here is a particular problem at the chain.
Look out for our reports on ITV News as we pinpoint what is wrong.
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