THE RETAIL BULLETIN - The home of retail news
HOME
Department Stores
Electricals
Entertainment
Fashion
Food & Drink
General Merchandise
Health & Beauty
Home & DIY
Interviews
Newsletter
Property
Shopping Centres & Retail Parks
Sports & Leisure
RETAIL INSIGHTS
RETAIL SOLUTIONS
Omnichannel Futures Conference 2020
Online Conversion Summit 2020
Future of Retail Marketing 2020
The HR Summit 2020
AI in Retail Conference 2020
ABOUT
CONTACT
SUBSCRIBE FOR FREE
Marks & Spencer sales down 2.2%

Marks & Spencer’s third quarter like-for-like sales fell 2.2% after trading was impacted in November by weaker consumer confidence, mild weather and competitors’ discounting. In the… View Article

GENERAL MERCHANDISE

Marks & Spencer sales down 2.2%

Marks & Spencer’s third quarter like-for-like sales fell 2.2% after trading was impacted in November by weaker consumer confidence, mild weather and competitors’ discounting.

In the 13 weeks to 29 December like-for-like food sales dropped by 2.1% while clothing and home sales declined by 2.4%.

International sales also suffered with a total sales fall of 15.1%.

Steve Rowe, M&S chief executive, said the retailer’s performance had remained steady in the period despite difficult market conditions. He added: “Our food business traded successfully over Christmas as customers responded to improved value. Our transformation programme remains on track.”

The company said the drop in clothing and home sales was a result of fewer people visiting its stores, which was partly due to the increasing speed of shop closures. Online sales grew by 14% in the category due to improvements made to the retailer’s online operations and proposition. Stock going into the end of season sale was down by around 25% following a planned reduction in stock levels

Meanwhile, M&S is continuing to lower its prices in its food business and remove what it described as complex and confusing multi-buy promotions. The company said there had been early signs of volume improvement with solid growth over the Christmas weeks.

M&S said the fall in international sales was partly a result of the sale of its Hong Kong business to its franchise partner and the closure of stores in loss making exit markets. Excluding these effects, international revenue declined by 1.4%.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Omnichannel Futures Conference 2020
Omnichannel Futures Conference 2020
5 February 2020
Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Online Conversion Summit 2020
Online Conversion Summit 2020
April 30 2020
The Hallam Conference Centre, London W1W 6JJ
The Retail Bulletin Online Conversion Summit 2020 Partnered by IMRG
Future of Retail Marketing 2020
Future of Retail Marketing 2020
9 June 2020
Hallam Conference Centre, 44 Hallam St, London W1W 6JJ
The Future of Retail Marketing for Customer Engagement
The HR Summit 2020
The HR Summit 2020
1 October 2020
Hallam Conference Centre, London W1W 6JJ
Company values, collaboration with employees and driving a major HR transformation to create a truly omnichannel experience, need to be at the heart of the organisation's culture and brand
AI in Retail Conference 2020
AI in Retail Conference 2020
14 October 2020
Hallam Conference Center, 44 Hallam Street, London W1W 6JJ
CONFERENCE AIMED AT RETAILERS WORKING IN MARKETING, IT, DIGITAL, DATA AND TECHNOLOGY