Home / Knowledge / News / Apparel/Garments / Marks & Spencer group sales lift 2.7% in FY 2013-14
Marks & Spencer group sales lift 2.7% in FY 2013-14
20
May '14
Marks and Spencer Group Plc reports full year results 2013/14 for the 52 weeks ended 29 March 2014.
 
Highlights: 
Full year results:
• Group sales up 2.7%1 at £10.3bn
• Total UK sales +2.3%: Food +4.2%; General Merchandise 0.0%
• Like-for-like UK sales +0.2%: Food +1.7%; General Merchandise -1.4%
• International sales +6.2%1
• Multi-channel sales +22.8%
• Underlying profit before tax2 -3.9%3 to £623m
• Statutory profit before tax +6.1%3 to £580m
• Underlying basic earnings per share2 +0.9%3 to 32.2p
• Basic earnings per share +14.8%3 to 32.5p
• Full year dividend 17.0p per share level on the year
• Net debt down £150.7m to £2.46bn
 
Marc Bolland, Chief Executive, said: “M&S grew sales by 2.7% last year. We are focused on improving our performance in General Merchandise and were pleased to see early signs of improvement. Our Food business had a very strong year, consistently outperforming the market.
 
"Three years ago, we recognised the scale of investment required to transform our business, investing to strengthen our foundations and improve our customer offer. We are making solid progress on this journey and are now focused on delivery."
 
Marks and Spencer Group plc Chairman Robert Swannell, said, “The investment made in executing our strategy over the last three years puts M&S in a stronger position to compete in a retail world undergoing profound change. Our priorities now are to deliver on the investment we have made and to make M&S a more profitable, stronger and well-equipped business.
 
“In line with our dividend policy, the Board is recommending a final dividend of 10.8p per share, resulting in a full year dividend of 17.0p per share, level on last year.”
Guidance for financial year 2014/15
 
Gross margin is expected to grow by c.100bps in General Merchandise as a result of sourcing benefits, particularly in the second half of the year. Food gross margin is expected to grow by 10bps to 30bps due to further operational efficiency.
 
Operating costs are expected to increase by c.4% as a result of an increase in depreciation, inflation and the addition of new space. Group capital expenditure is expected to be lower at c.£500m to £550m.
 
The planned opening of new space will add c.1% to UK space, with c.2.5% in Food and no net space growth in GM. International space is expected to grow by c.10%. Underlying effective tax rate is expected to be 19.0%.
 
Click here to view full results.
 

Marks and Spencer

Must ReadView All

Apparel/Garments | On 25th Jun 2016

AEPC fears Brexit will hurt Indian apparel exports

The Apparel Export Promotion Council (AEPC) expressed its...

Courtesy: ITMF

Textiles | On 25th Jun 2016

Global yarn output up 20% q-o-q in Q1 2016: ITMF

The global yarn production increased by 20 per cent...

Courtesy: Balmain

Fashion | On 25th Jun 2016

Qatari investment fund buys French label Balmain

Mayhoola for Investments, an investment fund backed by the Emir of...

Interviews View All

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Rajiv Sirohi
Shara

What kind of fabric is in demand in export markets of home textiles? What...

Shawn Honeycutt
Bolger & O'Hearn

Which chemicals are likely to dominate the sustainable textiles industry?...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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
june 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search