M&S woes worsen as profits tumble in 2004

Recovery hopes at retailer Marks & Spencer were dealt another blow today when the group said trading had become more difficult in the last month.

The gloomy update came as M&S announced profits of £292.7m (€420m) for the six months to October 2, compared with £325.1m (€466m) a year earlier.

Chief executive Stuart Rose said the business required “radical change” and added that he would take direct responsibility for the retailing operation.

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