Menu
06/01/2010
M&S Sales Down On Predictions
Festive sales at high street retailer Marks and Spencer have failed to instill confidence in investors.
The company today reported a 0.8% growth in like for like sales - excluding store launches - during the three months proceeding Boxing Day.
Despite an upbeat message from chief executive Sir Stuart Rose this morning, share values in M&S dipped by 4.5% shortly after the results were published.
Share price fell by 17.20 pence to 387.70p. Retail analysts had earlier forecast a 2% increase in sales for the period.
Overall company sales grew by 1.2% compared to the same quarter in 2008. This was mostly represented by general merchandise, with only a mere 0.4% jump in food sales.
Despite this small upturn, M&S said the two days prior to Christmas were the best for food sales all year.
Sir Stuart described the performance as a "good Christmas" but expressed caution for the New Year.
"2009 was all about getting through the recession," he told the BBC.
"We have done pretty well in getting ourselves back into positive territory."
Yesterday, department store chain John Lewis reported a record 15% rise in sales for the same period.
(PR/GK)
The company today reported a 0.8% growth in like for like sales - excluding store launches - during the three months proceeding Boxing Day.
Despite an upbeat message from chief executive Sir Stuart Rose this morning, share values in M&S dipped by 4.5% shortly after the results were published.
Share price fell by 17.20 pence to 387.70p. Retail analysts had earlier forecast a 2% increase in sales for the period.
Overall company sales grew by 1.2% compared to the same quarter in 2008. This was mostly represented by general merchandise, with only a mere 0.4% jump in food sales.
Despite this small upturn, M&S said the two days prior to Christmas were the best for food sales all year.
Sir Stuart described the performance as a "good Christmas" but expressed caution for the New Year.
"2009 was all about getting through the recession," he told the BBC.
"We have done pretty well in getting ourselves back into positive territory."
Yesterday, department store chain John Lewis reported a record 15% rise in sales for the same period.
(PR/GK)
Related UK National News Stories
Click here for the latest headlines.
16 June 2005
ONS reports retail sales ‘restrained’
The latest three-monthly growth in retail sales volume was the highest since November 2004, the Office of National Statistics has reported. However, the report warned that the underlying trend appeared “restrained” and annual growth in sales volume fell to the lowest level for six years.
ONS reports retail sales ‘restrained’
The latest three-monthly growth in retail sales volume was the highest since November 2004, the Office of National Statistics has reported. However, the report warned that the underlying trend appeared “restrained” and annual growth in sales volume fell to the lowest level for six years.
28 March 2014
Retail Sales Bounce Back A 1.7% Rise In February
Retail sales increased more than expected in February according the official figures recuperating their sales volumes until nearly 1.7% last month after the post-Christmas slump when it felt a 2%. In fact, February sales were 3.
Retail Sales Bounce Back A 1.7% Rise In February
Retail sales increased more than expected in February according the official figures recuperating their sales volumes until nearly 1.7% last month after the post-Christmas slump when it felt a 2%. In fact, February sales were 3.
13 May 2008
Scotland Sees Fastest Growth In £1m Home Sales
Scotland delivered the fastest growth rate in million pound property sales in the UK over the past year according to a Halifax survey. Million pound property sales have risen by 138% from 144 sales in 2006 to 343 in 2007. Martin Ellis, the bank's chief economist, said: "Edinburgh continues to account for the significant majority of £1m sales.
Scotland Sees Fastest Growth In £1m Home Sales
Scotland delivered the fastest growth rate in million pound property sales in the UK over the past year according to a Halifax survey. Million pound property sales have risen by 138% from 144 sales in 2006 to 343 in 2007. Martin Ellis, the bank's chief economist, said: "Edinburgh continues to account for the significant majority of £1m sales.
16 September 2008
Self Harm Levels 'High' At Holloway Prison
A surprise inspection of Holloway women's prison has revealed high levels of self harm. Bullying was rife and more than two incidents of self harm were reported every day according to a report by prisons inspector Anne Owers.
Self Harm Levels 'High' At Holloway Prison
A surprise inspection of Holloway women's prison has revealed high levels of self harm. Bullying was rife and more than two incidents of self harm were reported every day according to a report by prisons inspector Anne Owers.
07 May 2015
Michelin Acquires Tyre Sales Company For £50m
Michelin Tyres has purchased tyre sales company Blackcircles.com for £50 million. The Edinburgh firm generated a revenue of £28 million in 2013 and has experienced an annual growth of around 20% per annum since 2008. Michael Welch, founder of Blackcircles.
Michelin Acquires Tyre Sales Company For £50m
Michelin Tyres has purchased tyre sales company Blackcircles.com for £50 million. The Edinburgh firm generated a revenue of £28 million in 2013 and has experienced an annual growth of around 20% per annum since 2008. Michael Welch, founder of Blackcircles.
-
Northern Ireland WeatherThis Evening and Tonight:It will be cloudy with a spell of heavy rain pushing south through late evening and the early hours, soon followed by some clear spells. Minimum temperature 6 °C.
