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

Textiles | On 28th Apr 2017

Fix 5% GST rate for textile goods: Textile bodies

Uniform levy of 5 per cent Goods and Services Tax (GST) on all...

Textiles | On 28th Apr 2017

India lifts CVD imposed on Nepali Jute goods

The countervailing duty (CVD) that was imposed on Nepali jute...

Courtesy: Williamsburg Garment Company

Fashion | On 28th Apr 2017

'We have grown by staying small & maximising efforts'

The easiest way to go out of business is to be too big or expand too...

Interviews View All

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Silke Brand-Kirsch
Schlegel und Partner

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

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Yash P. Kotak
Bombay Hemp Company

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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



X