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Clothing market share up 20bps - Marks & Spencer
15 Jul '11
2 min read
Marks & Spencer announces first quartet interim management statement 2011/12.
Marc Bolland, Chief Executive said:
“Marks & Spencer continued to grow market share in both Clothing and Food by offering our customers more choice, great value for money and leading innovation.
“Against the uncertain economic backdrop, we are focused on trading through the short term, while building for the long term growth of the business.”
Trading summary
Clothing market share was up 20bps to 11.7%1, marking 17 consecutive months of gains. Our customers continue to turn to Marks & Spencer quality for their everyday essentials including tailoring and underwear. We responded well to the season's key fashion trends, with ranges including Fashion Brights, launched in six weeks from sketch to store. We delivered more choice and great quality especially in our better and best ranges.
M&S Direct sales were up 13% in the quarter, with customers responding well to the convenience of our Shop Your Way multi-channel service. International sales were up 7.8%, reflecting a good performance across most of our markets.
Outlook
We expect trading conditions to remain challenging due to pressure on consumers' disposable incomes and higher commodity prices. As a result we remain cautious about the outlook. Our focus will be on remaining competitive, and offering our customers great value and quality at a time when they are managing their budgets carefully.
Guidance
Existing guidance for the financial year 2011/12 remains unchanged.
Marks and Spencer Group plc will report its half year results for 26 weeks ending 1 October 2011, including Q2 trading, on 8 November 2011.
Marc Bolland, Chief Executive said:
“Marks & Spencer continued to grow market share in both Clothing and Food by offering our customers more choice, great value for money and leading innovation.
“Against the uncertain economic backdrop, we are focused on trading through the short term, while building for the long term growth of the business.”
Trading summary
Clothing market share was up 20bps to 11.7%1, marking 17 consecutive months of gains. Our customers continue to turn to Marks & Spencer quality for their everyday essentials including tailoring and underwear. We responded well to the season's key fashion trends, with ranges including Fashion Brights, launched in six weeks from sketch to store. We delivered more choice and great quality especially in our better and best ranges.
M&S Direct sales were up 13% in the quarter, with customers responding well to the convenience of our Shop Your Way multi-channel service. International sales were up 7.8%, reflecting a good performance across most of our markets.
Outlook
We expect trading conditions to remain challenging due to pressure on consumers' disposable incomes and higher commodity prices. As a result we remain cautious about the outlook. Our focus will be on remaining competitive, and offering our customers great value and quality at a time when they are managing their budgets carefully.
Guidance
Existing guidance for the financial year 2011/12 remains unchanged.
Marks and Spencer Group plc will report its half year results for 26 weeks ending 1 October 2011, including Q2 trading, on 8 November 2011.
Marks & Spencer
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