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M&S Faced Pricing Pressure, Exane Says, Consensus Ests. May Drop 2014-01-09 07:55:17.584 GMT
By Heather Burke Jan. 9 (Bloomberg) -- Marks & Spencer 3Q general merchandise LFL sales dropped even with weak y/y comparatives, early optimism from new clothing lines, Exane says (underperform). * 3Q LFL a bit below consensus ests. * FY pretax consensus ests. may fall ~2% toward GBP630m * Pricing pressure, possible “ambitious” autumn/winter buying plans has driven lowered gross margin forecast * Next 12-18 months critical
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To contact the reporter on this story: Heather Burke in London at +44-20-7673-2044 or hburke2@bloomberg.net
To contact the editor responsible for this story: James Ludden at +44-20-7673-2645 or jludden@bloomberg.net