Marks and Spencer remains cautious as like-for-like sales dip |
| Industry News | |
| Wednesday, 01 July 2009 | |
 Marks & Spencer (M&S) saw like-for-like sales drop by 1.4% in the UK during the three months to 27 June, the retailer said today.In food, comparable sales dropped by 0.5%, while general merchandise was down by 2.4%. Overall UK sales rose by 1.7%, with food up 2% and general merchandise up by 1.2%. Group sales rose by 2.9% with online sales 28% ahead and international sales up 16%. M&S said that the 1.7% increase in total UK sales marked a further improvement in the trend seen over the last two quarters. The benefit to sales from the timing of Easter was about 0.7% in both food and general merchandise, it added. The company said: "In food, the actions we have taken to improve value, availability and product innovation have delivered better performance for the third consecutive quarter." Chairman Sir Stuart Rose said: "We are pleased with the improving trend in our performance. This demonstrates that the actions we are taking are working. "Customers have responded well to our initiatives, particularly our 125th anniversary campaign, and recently voted us the UK's most trusted retail brand. "Consumer confidence appears to be stabilising. However, we remain cautious about the outlook for the remainder of this and next year and will continue to run the business accordingly."
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