Marks and Spencer Q1 sales up 3.3 percent

REPORT_ For the first quarter, Marks and Spencer group

sales rose 3.3 percent. International sales rose 8.7 percent. It performed well especially in its key markets of India, China and the Middle East. Tight management of the business resulted in a clean stock position at the end of the quarter. M&S.com had a very strong quarter, with customers responding well to the improvements made to the service proposition such as free next day delivery to stores. Its new web platform is on track to launch in spring 2014. The new autumn/winter collection will start to arrive in stores and online from the end of July with a full launch in September.

Given the challenging trading conditions, Marks and Spencer remains cautious about the outlook and continues to manage the business tightly. Marc Bolland, Chief Executive, said: “Our general merchandise business showed some improvement this quarter and the food business delivered another excellent performance. 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, multi-channel retailer.”