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Marks & Spencer see boom in sales

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Marks & Spencer see boom in sales

Marks & Spencer has stemmed the rate of sales decline in its crucial fashion division and hailed further growth in full-price sales.

The high-street stalwart said clothing and home sales fell 1.2% on a like-for-like basis in the 13 weeks to July 1 and inched down 0.5% on a total basis to £852.1m.

Full-price sales in clothing and home jumped 7% as M&S pressed ahead with its strategy to reduce the number of items sold on promotion.

Indeed, the retailer held no clearance Sale during the quarter, compared with one last year.

The figures mark an improvement from Marks & Spencer’s year to April 1, when like-for-like sales in clothing and home fell 3.4%, following a sharp 5.9% decline during its fourth quarter.

Marks & Spencer has stemmed the rate of sales decline in its crucial fashion division and hailed further growth in full-price sales.

However, on a constant currency basis, international sales were down 4% after M&S closed 28 of the 53 stores in the markets it is exiting, as the retailer revealed last November.

M&S boss Steve Rowe said: “Trading in the first quarter was in line with our expectations and we are on track with delivery of the plan we announced last year.

“I am pleased that we continue to grow full-price sales in clothing and home, with reduced discounting and no clearance Sale in the quarter.

“In our food business, we delivered strong growth from new Simply Food openings, and are prioritising better ranging and stronger promotions.”

Subscribe to comments feed Comments (5 posted)

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“I am pleased that we continue to grow full-price sales in clothing and home, with reduced discounting and no clearance Sale in the quarter.
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Mark & Spencer has decrease their rate of products, however the currency in international sales are down and on the on the other hand,Indeed, the retailer held no clearance Sale during the quarter, compared with one last year.
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The scope of fashion now these days are so high but the competition level is also very tough. So, every designer tries to build the design which is unique and interesting. So, this is very interesting information about the fashion industry.
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