Shares in some of the UK's leading retailers - including Morrisons and Tesco - were tumbling this morning as poor Christmas trading impacted retail bellwethers.
Tesco, the world's third biggest retailer, said like-for-like UK Christmas sales fell 2.4%, while a surprise profit warning from Morrisons revealed a like-for-like fall of 5.6%. Morrisons added full year profits would now be toward the bottom of expectations. The results sent shares in the two groups lower, with Morrisons off 5.6% and Tesco 3.3% lower. M&S also revealed weaker than expected results today, with like-for-like general merchandise sales - mainly clothing - dropping by 2.1% in the 13 weeks to December 28, missing City forecasts. However, a solid performance from its ...
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