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Marks & Spencer Posts 3.3% Rise In Sales In Q1

Published on Jul 9 2013 6:16 AM in Retail

Marks & Spencer Posts 3.3% Rise In Sales In Q1

Marks & Spencer has posted a 3.3% rise in group sales in Q1 2013, on a constant currency basis, according to results issued this morning.

In its UK business, total sales were up 2.7% (like-for-like sales up 0.3%), while food sales rose 4.5% (lfl +1.8%). International sales were up 8.7% on a constant currency basis, while online sales via M&S.com rose 29.9%.

In a statement, Marks & Spencer said that its food business 'had another excellent quarter. Sales grew well ahead of the market, as customers chose us as the destination shop for special occasions as well as everyday quality they can trust'.

“Our General Merchandise business showed some improvement this quarter and the Food business delivered another excellent performance, continuing the strong underlying trend," said Marc Bolland, M&S Chief Executive. “Our International business also performed well during the quarter and M&S.com sales were very strong."

M&S said it remained "cautious" about the outlook for the remainder of the year. M&S did not offer any specific performance figures for its Irish business.

© 2013 - Checkout Magazine by Stephen Wynne-Jones

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