Warm Weather Knocks Over £500 Million Off M&S and Next
Consumers are once again donning summer dresses and sandals rather than splashing out on expensive overcoats, knitwear and boots.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
There’s fresh evidence from the FTSE 100 today of quite how vulnerable retailers are to unpredictable weather.
High street bellwether Next Plc and middle-class favorite Marks & Spencer Group Plc saw their share prices tumble, knocking more than £500 million ($610 million) off the companies’ market capitalizations as analysts voiced concern over the impact of unseasonably warm weather.