Wettest spring on record puts a damper on M&S (left to right) Veronica, Jocette, Madeline, Annie and Genavieve model the new range of Diamond Jubilee underwear which emulates the glamour of the 1950's, from Marks & Spencer in Oxford Street in central London. Picture date: Wednesday May 16, 2012. See PA story CONSUMER Jubilee . Photo credit should read: John Stillwell/PA Wire THE wettest spring on record and financial turmoil in the Eurozone are set to cast a cloud over annual results at high street retail icon Marks & Spencer this week. However, chief executive Marc Bolland is expected to reveal that despite the economic woes of M&S's Greek and Irish markets, in particular, the retailer has kept overseas sales above the £1 billion barrier it breached in the previous year. Bolland admitted in a fourth-quarter sales update last month that the retailer had been caught on the hop by clothing stock shortages in its UK stores in a very cold February. That triggered a 2 per cent fall in clothing sales, although like-for-like food sales lifted 1 per cent. Analysts say clothes revenues are believed to have worsened since the 31 March financial year‑end of the group, with the wettest April ever sure to have hit spring and summer fashion ranges. That inclement weather has continued into May. The comparatives will also be tough for M&S as Easter 2011 was the warmest in 60 years and drove clothing and food revenues a year ago. One analyst said: "The market will be much more interested in current trading than the annual results as much of the yearly performance is already in the market. And everybody knows how unhelpful the weather has been in the first six or seven weeks of M&S's new financial year. Allied to UK consumers" confidence bumping along historic lows, it is not a good backdrop for the high street generally." M&S is Britain's biggest clothes retailer, with nearly 12 per cent market share. But Bank of America Merrill Lynch said in a recent note: "We think M&S's clothing offer remains patchy with areas of strength like Autograph offset by weakness in areas like Per Una." Shore Capital said: "An amalgam of factors causes us to be concerned about trading at present and, more pertinently, for 2012/13." The City consensus is for a fall in M&S's underlying annual pre-tax profits, excluding exceptionals, to £694 million from £714.3m last time. The total dividend is expected to come in at 17.1p, almost treading water with the 17p payment in the previous year. Offsetting tough conditions on the UK high street, where M&S has about 600 stores including nearly 50 in Scotland, will be a resilient overseas performance, with India and China two of the best markets. Shore Capital forecasts revenue growth internationally of 6 to 7 per cent to £1.07bn, with performance driven by strong growth in the franchise stores. However, Shore says the overseas arm, which accounts for 11 per cent of M&S's sales and 18 per cent of profit, is likely to have suffered falling margins in the tough global economic climate and forecasts a 7 per cent slide in the division's earning to £137m.