SHARES in Marks & Spencer suffered another day of losses as concerns grew that its star-studded clothing relaunch is failing to revive the chain.

The retailer was down more than three per cent to 463¾after shedding nearly three per cent on Monday, as new market share data poured doubt on its clothing turnaround and City analysts downgraded its prospects.

Chief executive Marc Bolland is attempting to halt eight consecutive quarters of falling general merchandise sales – which span clothing and non-food – with an advertising campaign featuring Dame Helen Mirren and Olympic boxer Nicola Adams.

But figures from researcher Kantar Worldpanel showed M&S’s share of the womenswear market fell further in the 24 weeks to the end of August.

The retailer lost 0.6 percentage points of market share, compared with 0.7 percentage points in the previous month, the Financial Times reported.

The data covers the early days of its new autumn/ winter ranges, which began arriving in stores in July but were only formally launched at the start of last month.

Meanwhile, analysts at Deutsche Bank and Credit Suisse cut their general merchandise forecasts to negative for the three months to the end of last month. That brought M&S’s share price rally – which saw them climb to a five-and-a-half year high of 520.5p last month – to an abrupt halt.

After the chain disappointed with a 1.6 per cent fall in like-for-like general merchandise sales in the 13 weeks to the end of June, Deutsche analysts now expect a two per cent second-quarter decline, compared with a previous forecast for flat sales.

Credit Suisse analysts piled on the pressure by predicting a 1.5 per cent general merchandise sales fall in the second quarter.

The print, billboard and online campaign featuring a dozen “leading ladies” was orchestrated by renowned portrait photographer Annie Leibovitz.

It was unveiled in August and features the women at locations including a boat on the River Thames and a country house in Berkshire, wearing dinner dresses, leather jackets, faux furs and stiletto heels from the ranges.

Data published this week by the British Retail Consortium (BRC) and KPMG showed shoppers waiting for colder weather before restocking winter wardrobes.