Marks & Spencer Reports Decline In General Merchandise Sales

Marks & Spencer Group PLC MAKSY reported an increase in food sales, but a drop in general merchandise sales. For the 13 weeks to December 31, Marks & Spencer's total UK same-store sales surged 0.5% excluding VAT. Its general merchandise sales declined 1.8%, versus estimates of a 1.5% decline. However, food sales climbed 3%, versus estimates for a 1.5% rise. MAKSY shares closed at $9.56 yesterday.