Home / Articles / M&S slows fall in clothing sales

M&S slows fall in clothing sales

Sales at Marks and Spencer’s clothing and home division fell at a slower rate than before in the first quarter, the retailer has said.M&S said like-for-like sales, which strip out the impact of new store space, fell by 1.2% at the division in the three months to 1 July.This compares with a 5.9% fall in the final quarter of its financial year.Group like-for-like sales fell by 0.5% and chief executive Steve Rowe said trading was in line with expectations.He said that during the three months, the retailer had grown full price sales for clothing and home, adding that M&S had reduced discounting and did not have to hold a clearance sale during the period.However, like-for-like food sales dipped by 0.1% – which was worse than expected – and without Easter falling in April, comparable revenue across the UK business would have declined further.M&S said that the timing of Easter this year lifted food sales by 0.7% and clothing and home trade by 0.6% in the quarter.In total, sales across the business, including its international operation, increased by 2.7% to £2.5bn. The retailer released the figures ahead of its annual general meeting on Tuesday where Robert Swannell will give his final address to shareholders as chairman.Mr Swannell has served in the role since 2011. He will be succeeded by Archie Norman on 1 September.
Source: BBC News

About Business Ideas UK

My name is Joel Bissitt. I have been an entrepreneur for 24 years and have run many small businesses across various sectors. For the last 10 years I have worked mainly within online media, franchising and small business start-ups.

Check Also

Airbus says Brexit risks its '40 years of success'

European aviation giant Airbus has warned that Brexit runs the risk of destroying success …

Free Franchise Guide
close slider

Free Franchise Guide

Interested in buying a franchise? The our FREE Franchise Guide is a must! The guide contains lots of information to help you decide if franchising is right for you.

Yes, I'd like to join the Franchise UK mailing list.