M&S group revenue fell 3% to £10.4bn in the 52 weeks to 30 March 2019. Preliminary results also show a fall in pre-tax profit of 9.9% to £523.2m. While food sales were down 0.6%, the company's clothing arm posted a 3.6% decline in sales which, it said, was impacted by store closures. Like—for-like sales were also down 1.6%.

In May 2018, M&S announced that it would close more than 100 clothing and home stores by 2022. In the last financial year, it closed 35 stores as part of its shake-up and opened 48. Between now and 2024, it expects to close another 85 and open 20. In these latest results, the company revealed it now also plans to close 25 smaller, low-volume, high-cost food stores and open 75 new and bigger food outlets.

Marks and Spencer Group Plc Full Year Results For 52 Weeks Ended 30 March 2019