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M&S clothing and non-food sales fall for eighth consecutive quarter | M&S clothing and non-food sales fall for eighth consecutive quarter |
(about 2 hours later) | |
Marks and Spencer has recorded its eighth consecutive quarterly like-for-like fall in clothing and non-food sales in the past three months, although its chief executive, Marc Bolland, said there had been "some improvement" during the quarter. | |
The 1.6% fall in underlying sales in general merchandise was offset by a 1.8% gain from the food side. | The 1.6% fall in underlying sales in general merchandise was offset by a 1.8% gain from the food side. |
Bolland said sales had been hit by the poor weather in April, which saw heavy promotional activity across the sector as retailers attempted to catch up. | Bolland said sales had been hit by the poor weather in April, which saw heavy promotional activity across the sector as retailers attempted to catch up. |
"More than a third of the market was on promotion, so the average sales price was lower as a result," he said. | "More than a third of the market was on promotion, so the average sales price was lower as a result," he said. |
"Market share was slightly down but we were not surprised because we have an extremely high share in tops and bottoms, so if the summer doesn't kick off we are hit more than others." | "Market share was slightly down but we were not surprised because we have an extremely high share in tops and bottoms, so if the summer doesn't kick off we are hit more than others." |
Total UK sales were up by 2.7%, with food up by 4.5% and general merchandise ahead by 0.5%. M&S.com pushed sales ahead by almost 30%, boosted by the introduction of free next-day delivery to stores, and international sales rose by 8.7%. | |
Bolland has been under increasing pressure to stem the decline in M&S's core clothing division and is pinning his hopes on new autumn and winter ranges, which will be available in stores later this month. | Bolland has been under increasing pressure to stem the decline in M&S's core clothing division and is pinning his hopes on new autumn and winter ranges, which will be available in stores later this month. |
He said: "Our general merchandise business showed some improvement this quarter and the food business delivered another excellent performance, continuing the strong underlying trend. | He said: "Our general merchandise business showed some improvement this quarter and the food business delivered another excellent performance, continuing the strong underlying trend. |
"Our international business also performed well during the quarter and M&S.com sales were very strong. | "Our international business also performed well during the quarter and M&S.com sales were very strong. |
"We continue to make good progress with our plans to transform M&S into an international, multichannel retailer." | "We continue to make good progress with our plans to transform M&S into an international, multichannel retailer." |
Bolland will face shareholders at the group's annual meeting at Wembley Stadium on Tuesday and is likely to face tough questions from the expected 2,000-strong crowd. | Bolland will face shareholders at the group's annual meeting at Wembley Stadium on Tuesday and is likely to face tough questions from the expected 2,000-strong crowd. |
Shareholders will also be given a preview of the new ranges, which were well-received by the fashion press when they were launched last month. | Shareholders will also be given a preview of the new ranges, which were well-received by the fashion press when they were launched last month. |