M&S stock falls on analyst cut

 
Marion Dakers
RING

RING of broker downgrades hit shares in retailer Marks & Spencer yesterday, as analysts fretted over the chances of boss Marc Bolland’s autumn-winter clothing collection.

Credit Suisse expects M&S to post a steep fall in first-half profits, with a 1.5 per cent drop in general merchandise sales.

And Deutsche Bank cut forecasts for the past quarter. It thinks like-for-like general merchandise sales fell two per cent in the three months to the end of September.