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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)
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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.
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M&S Announces Store Closures And Job Cuts
High street chain Marks and Spencer has announced plans to shut down 25 of its Simply Food stores and two of its smaller stores, after reporting one of its worst Christmas trading performances on record. As a result of the closures, 780 jobs are set to go, with a further 450 planned to be axed at the company's head office.
M&S Announces Store Closures And Job Cuts
High street chain Marks and Spencer has announced plans to shut down 25 of its Simply Food stores and two of its smaller stores, after reporting one of its worst Christmas trading performances on record. As a result of the closures, 780 jobs are set to go, with a further 450 planned to be axed at the company's head office.
09 January 2007
M&S 'recovery plan' on track
Mark's and Spencer has reported good trading figures in the important pre-Christmas period with like-for-like sales up 5.6%. The best performance was in general merchandise, sales were up 7.1%, and in food which was up 3.6%.
M&S 'recovery plan' on track
Mark's and Spencer has reported good trading figures in the important pre-Christmas period with like-for-like sales up 5.6%. The best performance was in general merchandise, sales were up 7.1%, and in food which was up 3.6%.
19 May 2009
Dividends Cut As M&S Profits Fall
UK retailer Marks and Spencer has announced a 40% fall in profits from last year. M&S cut its dividend by a third - from 22p in the previous year, to 15p a share for the year to 28 March - after its annual pre-tax profits fell to £706 million from £1.1bn the year before. The company announced like-for-like sales reduced by 1.
Dividends Cut As M&S Profits Fall
UK retailer Marks and Spencer has announced a 40% fall in profits from last year. M&S cut its dividend by a third - from 22p in the previous year, to 15p a share for the year to 28 March - after its annual pre-tax profits fell to £706 million from £1.1bn the year before. The company announced like-for-like sales reduced by 1.
14 August 2013
Scottish Sales 'Outpace UK Sales' In July
The latest SRC-KPMG Scottish Retail Sales Monitor has revealed that Scottish sales outpaced its UK counterpart for the month of July. It is thought Andy Murray's triumph at Wimbledon, as well as the sustained period of hot weather combined to give Scotland's high streets their best performance for two years.
Scottish Sales 'Outpace UK Sales' In July
The latest SRC-KPMG Scottish Retail Sales Monitor has revealed that Scottish sales outpaced its UK counterpart for the month of July. It is thought Andy Murray's triumph at Wimbledon, as well as the sustained period of hot weather combined to give Scotland's high streets their best performance for two years.
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