M&S sale figures continue to fall

Tuesday 31st March 2009, 9:14AM BST.

M&S sale figures continue to fallMarks and Spencers has reported like-for-like sale fell by 4.2 per cent during the last three months.

The figures mark the fourth consecutive quarter of falling sales, but are better than some experts had predicted.

M&S claims promotions such as Dine in for £10 helped the fall in like-for-like food sales ease to 3.7 per cent in the first 13 weeks of the year, compared to the 8.9 per cent drop reported last quarter.

There was also good news for the retailer in terms of international sales, which were up 23 per cent, and online sales were also saw a 20 per cent rise.

In a statement M&S chairman Sir Stuart Rose said: “We have made progress against the key priorities set out at the interim results in November. Our customers are responding positively to the actions we have taken, resulting in an improved sales performance this quarter in both General Merchandise and Foods.

“International continues to grow strongly and we have managed our costs and cash flow tightly. Our trading stance remains ‘first price, right price’ with four main sale events a year. We are offering even better values across all price points in General Merchandise and Foods – without compromising our quality or ethical standards.

“While the outlook remains uncertain, we are confident that we are doing the right things for our customers and for our business.”

He added the company expected UK retail gross margin to be around 175 basis points lower than last year, operating cost growth of four to five per cent and capital expenditure to be no more than £700m.



Free e-Supplements

TWITTER

Shropshire Star on Twitter Shropshire Star on Twitter

Keep updated with the latest breaking news and content on our Twitter feed.

Lifestyle

Interactive Dining Out map Interactive Dining Out map

Hundreds of reviews by the Shropshire Star and Express & Star's teams to help you decide where to eat.

Entertainment

All the film reviews All the film reviews

Before you plan a trip to the pictures, get our critics' verdicts on all the latest movie releases.

OUR NEW APP

Get the new Shropshire Star app Get the new Shropshire Star app

Download the Shropshire Star’s new app to your iPad or iPhone to get one week of access to our digital newspapers absolutely FREE.