Marks & Spencer saw its shares come under pressure after a first-quarter trading update didn't deliver the positive news many investors were expecting.
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UK like-for-like sales were up 1.7 per cent, with a disappointing performance in general merchandise - sales were flat on an underlying basis - offset by strong growth in its food business. M&S's meals are proving a hit with shoppers looking to treat themselves at home rather than eating out, and food sales climbed 5 per cent overall, helping to lift its market share to 3.8 per cent. The group also continued its steady overseas expansion, with international sales up 7.8 per cent.
