Retail giant Marks & Spencer has provided a boost for the ailing retail sector by announcing a smaller-than-expected fall in sales. Chief executive Sir Stuart Rose, who has been criticised over recent trading and corporate governance issues, said there were signs of an improved trend in M&S's performance but added he remained cautious about prospects for this year and next. Like-for-like sales in the UK dropped 1.4 per cent in the 13 weeks to June 27, bettering the previous quarter as well as forecasts in the City. M&S shares jumped four per cent in early trading after the announcement while Sir Stuart's comments about a more stable picture for consumer confidence boosted rival stocks such as Next. City firm Numis Securities added £26 million to its M&S profits forecast after the update but its estimate for a surplus of £550 million in the year to March is still down on this year's reported £604 million.