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09/01/2007
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%.
Commenting on the performance, Stuart Rose, M&S Chief Executive said: "We have now delivered growth on growth in all areas of our business, thus completing the first part of our recovery plan. We remain on track to further drive and broaden our business."
M&S is continuing with a store modernisation programme and the retailer plans to have over 70% of its store space in the new format by Christmas this year.
Mr Rose added: “If our performance continues in the fourth quarter, we anticipate paying a bonus to all staff. Additionally, we are delighted that a further 12,000 employees will benefit from gains in share save schemes worth £56m maturing this month."
The company advertised heavily in the pre-Christmas period, particularly its clothing and food lines.
Marks and Spencer Group plc will report its 2006/07 Preliminary results and Q4 trading for the 13 weeks to 31 March 2007 on 22 May 2007.
(SP)
The best performance was in general merchandise, sales were up 7.1%, and in food which was up 3.6%.
Commenting on the performance, Stuart Rose, M&S Chief Executive said: "We have now delivered growth on growth in all areas of our business, thus completing the first part of our recovery plan. We remain on track to further drive and broaden our business."
M&S is continuing with a store modernisation programme and the retailer plans to have over 70% of its store space in the new format by Christmas this year.
Mr Rose added: “If our performance continues in the fourth quarter, we anticipate paying a bonus to all staff. Additionally, we are delighted that a further 12,000 employees will benefit from gains in share save schemes worth £56m maturing this month."
The company advertised heavily in the pre-Christmas period, particularly its clothing and food lines.
Marks and Spencer Group plc will report its 2006/07 Preliminary results and Q4 trading for the 13 weeks to 31 March 2007 on 22 May 2007.
(SP)
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