Failure to discount costs M&S

Marks & Spencer refused to cut clothing prices and it has cost the company market share, reports Retail Week.

Marks & Spencer’s overall apparel share was down 0.6 percentage points year on year to 9.9% in the 24 weeks to 10 May.

It fell by the same proportion compared with the previous 24-week period.

In the key womenswear category M&S’s share fell from 11.2% to 10.6% year on year, while menswear dropped from 11.1% to 10.5%.

The retailer’s latest collections, overseen by style director Belinda Earl, have proved popular with the fashion press and the retailer has been determined to avoid discounting.

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