Retail shares spooked by trading fears
07/01/2008 - 09:18:24Fears over Christmas trading woes at Sainsbury’s and Marks & Spencer sent shares in the retail giants tumbling today ahead of key updates.
Sainsbury’s saw shares dive as much as 8% in early trading as reports suggested the supermarket had trailed behind its rivals over the festive season, missing internal targets for both sales and profits.
Speculation was also mounting over high street stalwart M&S, with talk that the chain suffered its worst Christmas for two years – knocking shares by 3%.
The falls extended losses seen on Friday amid nerves over third quarter updates from the retailers later this week.
