m&s shares pressured by profit warning talk -deale M&S shares...

m&s shares pressured by profit warning talk -deale M&S shares pressured by profit warning talk -dealers
September 9, 2004 6:21am ET (Reuters)

LONDON, Sept 9 (Reuters) - Shares in British retailer Marks & Spencer fell on Thursday amid talk the company might issue a profit warning and after a key womenswear designer stepped down, dealers said.

By 1012 GMT shares in Marks & Spencer, which fought off a takeover attempt by retail entrepreneur Philip Green in July, was among the biggest FTSE 100 fallers, down 2 percent at 347-1/2 pence, valuing the company at about 8 billion pounds ($14 billion).

A spokeswoman for Marks & Spencer declined to comment on the speculation.

Earlier the company said it was to lose top designer Yasmin Yusuf at the end of September.

The retailing icon has been Britain's largest clothing retailer for decades but has suffered falling sales and a declining market share amid tough competition.

In August, British press said Wal-Mart subsidiary Asda has overtaken M&S as Britain's biggest clothing retailer, citing confidential market share data.