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Marks & Spencer Tumbles After Holiday Sales Miss Estimates

Marks & Spencer Group Plc fell the most since 2010 in London trading as the U.K.’s largest clothing retailer reported quarterly sales that missed estimates, adding to pressure on Chief Executive Officer Marc Bolland.

The shares fell as much as 5.2 percent after the London-based company said U.K. same-store general merchandise revenue fell 3.8 percent in the 13 weeks ended Dec. 29. That compares with the median of nine estimates for a 1.5 percent drop. Marks & Spencer released the statement last night after a leak.