08/04/2010
M&S Sales Jump
Marks and Spencer today reported a 4.8% growth in quarterly group sales.
UK sales grew by 6.2% during the first three months of this year, marking a further improvement in the trend seen over the last five quarters.
The reported quarter includes the first day of the Christmas sale which was held on 27 December. This added 1.3% to UK and 2.9% to general merchandise totals and like for like sales.
The company said it has delivered a "strong performance" over the quarter.
Performance improved across all areas of general merchandise, as customers continued to seek out affordable quality and style, M&S said.
Clothing market share is now 11.9%, with sales of formal wear and knitwear particularly strong.
M&S said customers has responded well to the newly launched Spring collections.
Food delivered a sixth consecutive quarter of improved performance.
M&S Direct had another strong quarter with sales up 48% as we extended 'Shop Your Way', the supermarket's multi-channel ordering service, to over 300 stores.
International sales were down 5.9%, as a result of particularly difficult trading conditions in the Republic of Ireland and Greece, and an adverse impact from currency translation.
Executive Chairman Sir Stuart Rose said the continuing improvement in performance is the result investments in stores, service, product and values.
"We have weathered the immediate impact of the recession but remain cautious about the outlook for 2010/11 given the current challenging environment," he said.
"We hope that after the election there will be greater clarity on economic policy and how this will impact our customers individually. With this will come improving consumer confidence which is so important for our business and the economy as a whole."
(PR/GK)
UK sales grew by 6.2% during the first three months of this year, marking a further improvement in the trend seen over the last five quarters.
The reported quarter includes the first day of the Christmas sale which was held on 27 December. This added 1.3% to UK and 2.9% to general merchandise totals and like for like sales.
The company said it has delivered a "strong performance" over the quarter.
Performance improved across all areas of general merchandise, as customers continued to seek out affordable quality and style, M&S said.
Clothing market share is now 11.9%, with sales of formal wear and knitwear particularly strong.
M&S said customers has responded well to the newly launched Spring collections.
Food delivered a sixth consecutive quarter of improved performance.
M&S Direct had another strong quarter with sales up 48% as we extended 'Shop Your Way', the supermarket's multi-channel ordering service, to over 300 stores.
International sales were down 5.9%, as a result of particularly difficult trading conditions in the Republic of Ireland and Greece, and an adverse impact from currency translation.
Executive Chairman Sir Stuart Rose said the continuing improvement in performance is the result investments in stores, service, product and values.
"We have weathered the immediate impact of the recession but remain cautious about the outlook for 2010/11 given the current challenging environment," he said.
"We hope that after the election there will be greater clarity on economic policy and how this will impact our customers individually. With this will come improving consumer confidence which is so important for our business and the economy as a whole."
(PR/GK)
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9.7% Fall In Profit For M&S
Marks and Spencer has reported a 9.7% fall in profits. The UK's biggest clothing retailer posted pre-tax profits of £290m for the six months to the end of September, down 9.7% from the same period last year. Other figures reported by the retailer include a 0.9% rise in group sales, up to £4.7bn.
9.7% Fall In Profit For M&S
Marks and Spencer has reported a 9.7% fall in profits. The UK's biggest clothing retailer posted pre-tax profits of £290m for the six months to the end of September, down 9.7% from the same period last year. Other figures reported by the retailer include a 0.9% rise in group sales, up to £4.7bn.
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