M&S to issue early trading statement

Marks & Spencer is expected to bring forward the date of its next trading statement, sparking fears over trading results. M&S will release second-quarter figures on 2 October ahead of half-year results on 4 November. The retailer scrapped the practice of releasing quarterly results in 2006.

M&S is further in talks with staff representatives about changing benefits surrounding redundancy for its UK workers.

The firm is talking to its Business Involvement Group over the move, which could cut payouts from 70 weeks to 52 weeks depending on length of service.

M&S, which has 70,000 UK staff, wants to introduce the changes by the beginning of September.

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It has not reviewed redundancy benefits since 2006 and says new terms would remain more generous than competitors.

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