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Marks & Spencer's strategy may be testing shareholders' patience

UK retailer has posted 14 straight quarterly declines in clothing, footwear and homeware sales

London

FOR generations, British children went to school in Marks & Spencer's clothes, teenagers turned to it for first interview suits and shoppers of all ages bought its underwear.

But the arrival over the last 20 years of fast, cheap fashion at one end of the market and

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