M&S posts fall in annual sales and profit

For its full year to March 30, 2019, Marks and Spencer Group Plc (M&S) reported 9.9 percent decline in profit before tax & adjusting items to 523.2 million pounds (663 million dollars), driven by headwinds on sales, partly offset by the operating costs transformation programme. The company said, total revenues declined 3 percent to 10.4 billion pounds (13.2 billion dollars) with UK clothing & home revenue down 3.6 percent and like-for-like revenue down 1.6 percent.