In spring 2004, consecutive sales declines and negative press coverage left M&S vulnerable to a second virtual take-over bid. In order to turn M&S fortunes around, communications needed to serve as a public declaration of M&S's confidence and commitment to change and turn the tide of negative PR. Since the launch, 'Your M&S' campaigns have generated over £6m worth of positive press coverage and contributed to over 18million additional customer visits. In spring 2006, M&S reported Q4 sales growth of 9.1% against a backdrop of total high street sales down 1.4% on the year. In Spring 2006 the M&S share price was just below £6 and M&S had the highest P/E multiplier of any FTSE 100 retailer