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11/04/2006
M&S reports sales rise
Marks and Spencer has reported a strong rise in sales, as the High Street retailer's sales revival continues.
M&S reported a 6.8% increase in like-for-like sales in the three months up to April 1.
The retailer said that it expected profits before tax for 2005/06 to be between £745 and £755 million. The figure takes into account £70 million of bonus payments, including a £20 million bonus to staff.
Commenting on the sales figures, M&S Chief Executive Stuart Rose said: "We are pleased with the progress we are making, but there remains much to do. The trading environment remains difficult and we do not expect this to improve in the next financial year.
Mr Rose, who was brought in as M&S Chief Executive when BHS owner Philip Green launched a £9 billion bid for the firm in 2004, has been credited with helping to turn around the fortunes of the retailer.
A recent campaign, featuring model Twiggy, has won praise and been credited with helping to boost sales.
(KMcA)
M&S reported a 6.8% increase in like-for-like sales in the three months up to April 1.
The retailer said that it expected profits before tax for 2005/06 to be between £745 and £755 million. The figure takes into account £70 million of bonus payments, including a £20 million bonus to staff.
Commenting on the sales figures, M&S Chief Executive Stuart Rose said: "We are pleased with the progress we are making, but there remains much to do. The trading environment remains difficult and we do not expect this to improve in the next financial year.
Mr Rose, who was brought in as M&S Chief Executive when BHS owner Philip Green launched a £9 billion bid for the firm in 2004, has been credited with helping to turn around the fortunes of the retailer.
A recent campaign, featuring model Twiggy, has won praise and been credited with helping to boost sales.
(KMcA)
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