LONDON, July 7 (Reuters) - British retailer Marks & Spencer on Thursday reported a worse than expected fall inquarterly underlying sales in its clothing division, reflectinga weak market, price cuts and fewer promotions.
M&S said consumer confidence weakened in the run up to theJune 23 European Union referendum but said it was too early toquantify the implications of Brexit and maintained its guidancefor the 2016-17 year.
Steve Rowe succeeded Marc Bolland as chief executive of the132-year-old clothing and food stores group in April and warnedin May that efforts to turn around its clothing business bycutting prices and improving ranges would dent short term salesand profit.
M&S said that over the 13 weeks to July 2, its fiscal firstquarter, sales of clothing and home products at stores open overa year fell 8.9 percent.
That compares to analysts' forecasts of down 5 to 8 percentand a decline of 2.7 percent in the fourth quarter of M&S's2015-16 year.
Like-for-like food sales fell 0.9 percent, having been flatin the previous quarter. (Reporting by James Davey; editing by Kate Holton)
Marks & Spencer (MKS)