Disappointing General Merchandise sales Q3 M&S

Announcing its financial update for the third quarter of 2015/16 ending December 26, 2015, the Marks and Spencer Group (M&S) said that its general merchandise continued to decline. The company said that sales were down 5percent and like for like sales declined 5.8 percent due to unseasonal conditions and availability. However, M&S.com sales increased 20.9 percent. After releasing the trading statement for the period under review, the company’s CEO, Marc Bolland expressed his desire to step down from the role.