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10/04/2014
M&S Clothing Sales Start To Recover
Marks & Spencer has said its clothing sales have started to recover, but sales across its wider non-food division have fallen for the eleventh consecutive quarter.
In the three months to the end of March, like-for-like sales were down by 0.6%.
However, it added its like-for-like clothing sales had increased by 0.6%.
Like-for-like figures count sales at stores open for more than a year and leave out sales at stores that have only recently opened.
Elsewhere, the 0.6% fall in non-food sales was an improvement on previous quarters. In the three months to the end of December, which included Christmas, sales dropped by 2.1%, while sales in the three months to the end of March 2013 fell by 3.8%.
Food sales increased by just 0.1% on the same basis, while online sales surged by 12.5%.
Marc Bolland, M&S chief executive, said he was "particularly encouraged by womenswear, which is showing a clear sign of improvement and performed ahead of clothing".
He added that the company's food business "outperformed the market once again".
(CVS/JP)
In the three months to the end of March, like-for-like sales were down by 0.6%.
However, it added its like-for-like clothing sales had increased by 0.6%.
Like-for-like figures count sales at stores open for more than a year and leave out sales at stores that have only recently opened.
Elsewhere, the 0.6% fall in non-food sales was an improvement on previous quarters. In the three months to the end of December, which included Christmas, sales dropped by 2.1%, while sales in the three months to the end of March 2013 fell by 3.8%.
Food sales increased by just 0.1% on the same basis, while online sales surged by 12.5%.
Marc Bolland, M&S chief executive, said he was "particularly encouraged by womenswear, which is showing a clear sign of improvement and performed ahead of clothing".
He added that the company's food business "outperformed the market once again".
(CVS/JP)
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9.7% Fall In Profit For M&S
Marks and Spencer has reported a 9.7% fall in profits. The UK's biggest clothing retailer posted pre-tax profits of £290m for the six months to the end of September, down 9.7% from the same period last year. Other figures reported by the retailer include a 0.9% rise in group sales, up to £4.7bn.
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