Marks and Spencer: Sales rise amid high street gloom

13th July 2011

Reuters reported that M&S's "older and more affluent customers cope better with a squeeze in disposable incomes".

Marks and Spencer said sales at UK stores open over a year, excluding VAT sales tax, rose 1.7 percent in the 13 weeks to July 2, its fiscal first quarter.

That compares with analyst forecasts of a rise of 1-2 percent, according to a company poll of seven, and a fourth quarter rise of 0.1 percent.

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