Mixed message from the high street

There have been mixed messages from the high street. Marks and Spencer has reported its financial results - and sales did not fall in the past three months, as had been expected.

In fact rising food sales made up for falls in other areas. Its like-for-like sales, which ignore new store openings, rose 0.1% in the 13 weeks to 2 April.

General merchandise fell 3.9%, but that was cancelled out by a 3.4% rise in food sales.

In recent weeks we have seen a succession of poor results from other retailers.

Mike Dennis, a retail analyst at MF Global says people's spending habits have changed.

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