M&S relies on food sales for growth as clothing struggles
date:Apr 12, 2013
, at stores open more than a year fell 3.8 percent in the 13 weeks to March 30, its financial fourth quarter.

That was slightly better than analysts' forecasts of a drop of between 4 and 6 percent, but matched the fall of the previous quarter when MS moved to protect profit margins by offering fewer discounts.

People had got themselves into a very gloomy frame of mind about MS ahead of this statement, so any non-disastrous news was probably always going to make the shares bounce, one of the te
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