Marks & Spencer H1 Net Profit Down 10%
Marks & Spencer Group plc (OTC: MAKSY) reported a 10% decline in its first-half net profit.
Marks & Spencer's same-store sales in the UK dropped 1.4% in the six months to September 29.
Marks & Spencer's net profit for the period dropped to GBP227.2 million ($363.2million), from GBP252.4 million, in the year-ago period.
Its pretax profit dropped 9.7% to GBP289.5 million, versus analysts' estimates of GBP281 million.
Marks & Spencer's shares closed at $12.36 yesterday.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.