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Retail sales slump again

In its worst figures outside of a seasonal period for 11 months, the British Retail Consortium said October's UK retail sales were 0.1% lower on a like-for-like basis than a year ago, ending the modest revival seen in September.

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M&S chief: Company making 'strong progress'

Marks & Spencer Chief Executive Marc Bolland said the company is making "strong progress" in its bid to become an "international multi-channel retailer", despite reporting a drop in pre-tax profit during the first half of the year.

Instead, Mr Bolland highlighted the firm's performance in the second quarter, which was better than the previous quarter.

We took steps to address the short term merchandising issues in General Merchandise and as a result, we delivered an improved performance.

Eighteen months in, we are making strong progress with our plan to transform M&S into an International Multi-channel retailer.

Our new International stores are performing well, and our Multi-channel business is delivering strong growth.

– Marks & Spencer CEO Marc Bolland

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