Marks & Spencer (M&S) is set to reveal as drop in like-for-like sales when it releases its figures this week.
Total sales could drop by as much as 6%, placing more pressure on the company’s chairman, Sir Stuart Rose, reports the Guardian.
Analysts including Deutsche Bank have suggested that Rose may have to leave his position earlier than he wishes to as a result of the retailer’s performance.
In the week that Tesco is also due to announce its sales figures for the first quarter, M&S is likely to report pre-tax profits of under £300m.
Recently, Morrisons said that its underlying profits in the opening half of 2008 rose to £295m despite tough trading conditions.
But Waitrose reported a dip in operating profit during the same period.
Today, M&S is set to disclose the outcome of the appeal by GMB over the dismissal of worker Tony Goode for leaking information about the firm’s redundancy conditions.
