Marks & Spencer posts first profit fall in 3 years

LONDON - Bellwether British retailer Marks & Spencer posted a 1.2 percent fall in full-year underlying profit, its first decline in three years, as even its relatively older and more affluent customers were touched by the economic downturn. Marks & Spencer's Basingstoke store / Photo: Marks & SpencerBritain's biggest clothing retailer, which also sells homewares and upmarket foods, said on Tuesday it made a profit before tax and one-off items of 705.9 million pounds ($1.12 billion) in the year

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