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24/05/2005
M&S reports marked fall in sales
Marks & Spencer have reported a fall in pre-tax profits of 19%, in their latest trading figures.
The retailer reported pre-tax profits of £618.5 million, compared to last year’s figure of £763.2 million.
Although food sales rose slightly – up 2.4% on last year’s figures – like-for-like sales fell by 2.6%.
Marks & Spencer also reported that clothing sales for the year were “disappointing”. Although footwear and clothing volumes had increased, total clothing sales fell by 3.1% and the company reported that its share of the clothing sales market fell by 0.5 percentage points to 10.5%.
The past year has proved to be turbulent for Marks & Spencer, with the appointment of a new executive team and an attempted takeover bid by billionaire retailer Philip Green.
In a statement, Marks & Spencer described the trading environment as “difficult”. The statement said: “The outlook remains challenging with tough economic and competitive conditions expected to continue.”
Marks & Spencer also announced plans to open another 20 of their ‘Simply Food’ stores over the coming year. The retailer opened 31 of these stores over the last year.
The company also launched trials of a new store design in the last year, and plans to extend this into another 21 stores.
Marks & Spencer also announced today that it had agreed to a deal with BP to open eight pilot 'Simply Food' stores on BP Connect forecourt sites.
The first of these concept stores is due to open in Autumn 2005.
(KMcA/SP)
The retailer reported pre-tax profits of £618.5 million, compared to last year’s figure of £763.2 million.
Although food sales rose slightly – up 2.4% on last year’s figures – like-for-like sales fell by 2.6%.
Marks & Spencer also reported that clothing sales for the year were “disappointing”. Although footwear and clothing volumes had increased, total clothing sales fell by 3.1% and the company reported that its share of the clothing sales market fell by 0.5 percentage points to 10.5%.
The past year has proved to be turbulent for Marks & Spencer, with the appointment of a new executive team and an attempted takeover bid by billionaire retailer Philip Green.
In a statement, Marks & Spencer described the trading environment as “difficult”. The statement said: “The outlook remains challenging with tough economic and competitive conditions expected to continue.”
Marks & Spencer also announced plans to open another 20 of their ‘Simply Food’ stores over the coming year. The retailer opened 31 of these stores over the last year.
The company also launched trials of a new store design in the last year, and plans to extend this into another 21 stores.
Marks & Spencer also announced today that it had agreed to a deal with BP to open eight pilot 'Simply Food' stores on BP Connect forecourt sites.
The first of these concept stores is due to open in Autumn 2005.
(KMcA/SP)
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09 October 2001
Marks & Spencer record first sales increase in three years
UK retailer Marks and Spencer have recorded a 2.8 per cent increase in the second quarter of its financial year. The latest figures are being interpreted in some quarters as the first sign of a turnaround in the retailer's fortunes after shares reached a 10-year low in 2000.
Marks & Spencer record first sales increase in three years
UK retailer Marks and Spencer have recorded a 2.8 per cent increase in the second quarter of its financial year. The latest figures are being interpreted in some quarters as the first sign of a turnaround in the retailer's fortunes after shares reached a 10-year low in 2000.
11 July 2001
MARKS & SPENCER REPORT FURTHER SALES SLUMP
UK retailer Marks & Spencer has reported a 9.1 per cent slump in clothing sales during the 14 weeks up to 7 July. This represents a further decline since the company's last update when sales fell in the same area by 6.5 per cent. However, on a more positive note the company’s food sector showed continued profitability with a 5.9 per cent - or 4.
MARKS & SPENCER REPORT FURTHER SALES SLUMP
UK retailer Marks & Spencer has reported a 9.1 per cent slump in clothing sales during the 14 weeks up to 7 July. This represents a further decline since the company's last update when sales fell in the same area by 6.5 per cent. However, on a more positive note the company’s food sector showed continued profitability with a 5.9 per cent - or 4.
02 April 2002
CBI survey reveals shop sales remain strong
Retail sales remained strong in March but the annual rate of increase has edged down from the peaks over Christmas and the New Year, according to the CBI's latest monthly distributive trades survey. The survey, released on Tuesday April 2, was conducted between 5 and 20 March 2002 with 268 retail outlets taking part.
CBI survey reveals shop sales remain strong
Retail sales remained strong in March but the annual rate of increase has edged down from the peaks over Christmas and the New Year, according to the CBI's latest monthly distributive trades survey. The survey, released on Tuesday April 2, was conducted between 5 and 20 March 2002 with 268 retail outlets taking part.
24 October 2002
Revitalised Marks & Spencer stores reopen
Marks & Spencer have reopened the doors of their Buttercrane Shopping Centre in Newry and Forestside Shopping Centre in Newtownbreda. Following completion work, estimated to have cost over £1.5 million, the stores represent two of three outlets in Northern Ireland due for a ‘renewal programme' this year.
Revitalised Marks & Spencer stores reopen
Marks & Spencer have reopened the doors of their Buttercrane Shopping Centre in Newry and Forestside Shopping Centre in Newtownbreda. Following completion work, estimated to have cost over £1.5 million, the stores represent two of three outlets in Northern Ireland due for a ‘renewal programme' this year.
17 May 2005
M&S announce new chairman
Marks and Spencer have announced that chairman Paul Myners will step down at the company’s annual general meeting in July 2006. Lord Burns, who is currently chairman of Abbey National and Welsh Water, as well as a non-executive director of Banco Santender Central Hispano, Pearson Group and British Land, will replace Mr Myners.
M&S announce new chairman
Marks and Spencer have announced that chairman Paul Myners will step down at the company’s annual general meeting in July 2006. Lord Burns, who is currently chairman of Abbey National and Welsh Water, as well as a non-executive director of Banco Santender Central Hispano, Pearson Group and British Land, will replace Mr Myners.
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Northern Ireland WeatherToday:A cloudy morning with a few showers at times. Becoming dry in the afternoon and staying mainly cloudy, but some sunshine breaking through particularly in the east. Maximum temperature 16 °C.Tonight:Quite cloudy across all counties at first but clear spells most likely towards Down and Antrim, becoming widespread through the evening and overnight. Minimum temperature 5 °C.
