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M&S Q4 group sales up by 0.8%

By FashionUnited

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British retailer Marks & Spencer Group Plc, on April 17 released its fourth quarter 2011 financial

results. The group clocked sales growth of 0.8%.  Total UK sales for the quarter increased 1.2%, but clothing business was reduced to 0.3%. M&S’ like for like UK sales were down 0.7%. While M&S Direct recorded a sales growth of 22.8%. The group international sales declined 2%.

Marc Bolland, Chief Executive, said, “Marks & Spencer has  continued to make progress in a challenging market. Group sales grew by 0.8%, and UK sales grew by 1.2%. A number of new initiatives have  delivered an improved customer shopping experience. Our food business has again performed well, especially in health food, while the general merchandise performance was more mixed.”

M&S says  its strategic international markets in India, China and the Gulf continue to trade strongly. However, international sales performance was impacted by continued macro-economic weakness in the Republic of Ireland and Greece, and the announced restructuring of their Central European business. The newly opened flagship store in Paris has  performed ahead of expectations.

Marks & Spencer  in clothing, menswear, lingerie and kidswear performed strongly. In women’s wear its performance was mixed, with some key areas trading well. However, M&S performed less well in other areas where it was short of stock in a number of best-selling lines. The group is taking steps to address this by strengthening its merchandising capabilities. M&S  is aiming very high with a new ad campaign appealing to a broad customer base.
M&S
Marks & Spencer