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11/10/2005
M&S reports positive sales figures
Marks & Spencer has announced a rise in sales for the second quarter this year.
The High Street retailer announced that like-for-like sales increased by 1.3% for the 12 weeks to October 1, contrasting with a drop of 5.4% in the previous quarter.
M&S reported a drop in like-for-like sales of general merchandise – such as clothing and homewares – but at 0.2%, it was significantly less than the previous quarter’s drop of 11.2%.
Like-for-like sales in food increased by 2.7%, compared to a 0.7% drop in the previous quarter, while full price sales of general merchandise rose by 0.4%, compared to last quarter’s 2.4% decrease.
Total group sales increased by 3.3%.
M&S reported that customer reaction to the company’s Autumn ranges had been “positive”. In a statement, the company said: “Our focus on rebuilding our home business is showing through. Food continues to make progress and has delivered another quarter of like-for-like growth, driven by product innovation and availability.
“Customer perceptions of product and service have improved. This has been reinforced through our focussed advertising campaign for food and womenswear.”
Stuart Rose, M&S Chief Executive, said that the latest figures showed an “encouraging performance”, but warned that there remained “much to be done”. He said: “The environment remains very difficult and we have the important Christmas trading period ahead.
“We are making progress. We are listening to our customers and feedback has been positive. The product is getting better, our stores are looking better. We are offering our customers better value. This will remain our focus.”
(KMcA/SP)
The High Street retailer announced that like-for-like sales increased by 1.3% for the 12 weeks to October 1, contrasting with a drop of 5.4% in the previous quarter.
M&S reported a drop in like-for-like sales of general merchandise – such as clothing and homewares – but at 0.2%, it was significantly less than the previous quarter’s drop of 11.2%.
Like-for-like sales in food increased by 2.7%, compared to a 0.7% drop in the previous quarter, while full price sales of general merchandise rose by 0.4%, compared to last quarter’s 2.4% decrease.
Total group sales increased by 3.3%.
M&S reported that customer reaction to the company’s Autumn ranges had been “positive”. In a statement, the company said: “Our focus on rebuilding our home business is showing through. Food continues to make progress and has delivered another quarter of like-for-like growth, driven by product innovation and availability.
“Customer perceptions of product and service have improved. This has been reinforced through our focussed advertising campaign for food and womenswear.”
Stuart Rose, M&S Chief Executive, said that the latest figures showed an “encouraging performance”, but warned that there remained “much to be done”. He said: “The environment remains very difficult and we have the important Christmas trading period ahead.
“We are making progress. We are listening to our customers and feedback has been positive. The product is getting better, our stores are looking better. We are offering our customers better value. This will remain our focus.”
(KMcA/SP)
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