2 while the rest of activity saw its revenues fall by 8

British newspapers have shelled yesterday, as commemorations, 27 stores Marks & Spencer is about to close. Easier probably to appoint employees 1.230 fired in the aftermath, including 15 of the headquarters staff. "We must be thin and evil", said Stuart Rose, the Director General of British Ensign struck by a strong decline in sales. On the thirteen weeks completed on 27 December, its turnover to comparable surface fell 7.1 in the United Kingdom: the worst performance of end of the year, for ten years. The City is nevertheless shown relieved in the absence of a warning about the results that she had, with an increase of 2.20 of stock market to 244 pence.

In the last quarter of the year calendar, the most important food sales declined 5.2, while the rest of activity saw its revenues fall by 8.9. The leader of the clothing, which States have maintained its market share in this sector, thus displays a performance considered disappointing compared to its competitors, next to Debenhams, passing through New Look (read below). To boost its sales before Christmas, M & S had organized two days of "outstanding balance" at 20, an aggressive policy it had abandoned in recent years. "If the massive cuts before Christmas have prevented a disaster in terms of sales, margins have been affected significantly, pushing a drop of around 5 of annual result forecasts", tells the British actions of Threadneedle asset manager responsible for Leigh Harrison. Also, the decline in margins reflects the repositioning of M & S on the food, of the medium-high range niche shunned by consumers, to cooked food more affordable.

To compensate for the loss of margin, the Distributor replied, yesterday, by the implementation of a massive drop plan for. Job losses, closures of stores, giving salary cap right pensions: the group is committed to reduce its operating expenditure from 175 to 200 million additional pounds on the next fiscal year. Asked about his future at the head of M & S, Stuart Rose is is intended irony: "If an aircraft during a storm, I think that this is not the best thing to do to kill the pilot." Similarly, the leader who took orders from the British Ensign in resistance against an offer to purchase of Philip Green, departure from hand a possible threat of OPA, on the part of a raider attempted by the weakness of his scholarship course: "It is not the normal time", said almost fallen star of the British distribution.

While no resumption of consumption reflects only lurks in the coming months on the contrary, in view of the rise in unemployment the sector anticipates a very difficult year 2009. As the decline of the pound, which has bled away the price of certain imports, must, at one time or another, be passed on to the final consumer. Yet again, the weaker players will have difficulty to accept these price increases to their customers. On the view of the latter months of activity, in any case, Marks & Spencer is not in the platoon signs that might come out winning the severe recession involving Britain.