Marks & Spencer Falls as Plan to Revive Clothing Hits ProfitBy
Retailer will cut prices and de-clutter apparel shelves
M&S shares plummet 7.8%, the biggest drop in seven years
Marks & Spencer Group Plc chief Steve Rowe’s strategy to reboot the retailer’s moribund clothing business got a cool reception from investors, with the stock falling the most in seven years amid concerns the plan will hurt short-term profits and doesn’t address some key decisions.
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