Marc Bolland, Chief Executive said:
“Our Food business has performed very well with record sales over the key Christmas trading period. Our General Merchandise performance is not yet satisfactory but we are confident that the steps being taken by the new management team will address this.
“Our plan is to transform Marks & Spencer from a traditional UK retailer to an international multi-channel retailer. We are making good progress against this plan.
“We are pleased with our Multi-channel and International performance.
“I'd like to thank all of our colleagues for their exceptional hard work and commitment over the busy Christmas period.”
Our Food business continued to perform strongly. Over the two key Christmas trading weeks we had record sales of nearly £330m and outperformed the market by c. 4%. Our strategy to focus on innovation worked, with over 700 new products launched during the quarter giving customers all the ingredients for a special M&S Christmas.
Our like-for-like sales for the 14 weeks to 5 January, which includes New Year's trading on a comparable basis, were up 0.9%. Looking at our two year performance we have now delivered growth of +7.3%. In an inflationary market, we held our average prices level on last year, giving customers great value at a time when they are managing their budgets carefully.
In a challenging and highly promotional General Merchandise market, we delivered fewer but more targeted promotions, with a focus on full price sales. As a result we offered customers great value at M&S quality, whilst protecting our gross margin.
The new General Merchandise management team, which started recently, has managed stocks tightly, resulting in slightly less stock into the Christmas sale, and a clean position at the end of the quarter. Our Spring/Summer season which launches in stores this week has been well received by the fashion press, and as previously announced, the new team's first seasonal collection will be in store from July with the launch of our new Autumn/Winter collection.
Multi-channel performed well despite tough comparatives with sales up 10.8%. We launched free next day store collection as part of our drive to improve our service for our customers. Sales from mobile devices were up over 90% and Christmas Food to Order was up 5%. The new e-commerce distribution centre and the new web platform are on track to launch in April 2013 and Spring 2014 respectively.
Our key International markets in India and China continued to trade well, however, international sales overall were impacted by currency translation as well as continued macro-economic weakness in the Republic of Ireland and Greece and the on-going restructuring of our Central European business.
Textiles | On 25th May 2018
The Government of India has relaxed cabotage rules for transportation ...
Textiles | On 25th May 2018
Teejay Lanka, one of Sri Lanka’s largest textile manufacturers, has...
Ozone PB Spintex Limited
‘We have made huge investments to ensure quality yarn production.’
Md Hanifur Rahman
The level of understanding the job role and organisational requirements...
Shiladitya K Joshi
Truetzschler India Private Limited
India ITME provides a platform to interact with our stakeholders
Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...
New Delhi-based Jogindra Industries Private Limited provides an assortment ...
<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...
Voith Paper GmbH & Co. KG
The glass mat industry is growing by five to eight per cent annually. Kai...
Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...
Swerea IVF AB
Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...
Occasions Elegance Wear
It is believed that by early 19th century, Varanasi weavers had moved away ...
<div>Delhi-based Gritstones Clothing offers quality and exemplary style...
Gildan Activewear SRL
Gildan Activewear, a manufacturer and marketer of branded clothing and...