Home / Knowledge / News / Apparel/Garments / Group sales up marginally at M&S in H1 FY'12
Group sales up marginally at M&S in H1 FY'12
07
Nov '12
Marks and Spencer Group Plc (M&S) reports half year results 2012/13, 26 weeks ended 29 September 2012.

2012/13 half year operating review:

The market continued to be challenging through the first half of the financial year, with consumer confidence impacted by a weak macro-economic situation and continued pressure on disposable incomes. Trading was volatile, affected by unseasonable weather conditions over the summer months, including three of the wettest months on record in April, June and July. While the Jubilee and the Olympics improved the nation’s mood, they did not translate into higher sales.

Against this backdrop we focused on tight management of margin and costs. We took action to address the short term issues in General Merchandise and are pleased that we have seen an improvement in the second quarter. At the same time we continued to invest for the long term, in line with our strategy to transform the business into an International, Multi-channel retailer.

Sales

Group sales were up 0.9% on a constant currency basis (+0.4% actual currency) in the first half driven by good performance in our Food, International and Multi-channel businesses.

General Merchandise sales were down 2.5% with like-for-like sales down 4.3%. At the start of the financial year we identified merchandising issues in our Spring/Summer clothing collections, which impacted performance in the first quarter. We took decisive action, bringing our stock levels back in line for the Autumn/Winter season, improving our merchandising processes and better aligning our buying and external marketing. As a result, we have delivered an improved performance in General Merchandise in the second quarter.

In July we announced changes to the General Merchandise management team. Following the departure of Kate Bostock, John Dixon was appointed as Executive Director for General Merchandise from 1 October 2012. We have also strengthened the team with a number of key appointments, including Belinda Earl, who has joined as Style Director. Yesterday we announced further changes to our General Merchandise Management Team. Frances Russell has been appointed Trading Director in Womenswear, following a successful tenure running our Lingerie and Beauty business. Janie Schaffer is joining the business as Trading Director of Lingerie and Beauty and will start her new role in early 2013.

The new team is now in place, and focused on delivering improvements for our customers in both product, and operational execution. These improvements will take time to come through, but our customers will see the benefits of the changes from next summer.

Click here to read more details:

Marks & Spencer (M&S)


Must ReadView All

Apparel/Garments | On 23rd Sep 2017

AAFA urges negotiators to preserve TPLs in NAFTA

The American Apparel & Footwear Association (AAFA), an alliance of...

Textiles | On 23rd Sep 2017

SIMA urges Centre to re-look duty drawback rates

he Southern India Mills’ Association (SIMA) has appealed to the...

Textiles | On 23rd Sep 2017

PKR 690.65-mn budget for Pakistan Cotton Committee

The Pakistan Central Cotton Committee (PCCC) recently approved a PKR...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search