Home / Knowledge / News / Apparel/Garments / Marks & Spencer group sales lift 2.7% to £10.3bn
Marks & Spencer group sales lift 2.7% to £10.3bn
22
May '14
Marks and Spencer Group PLC (M&S) announced its Full Year Results for the 2013/14 financial year. 
 
The Group highlights included:
-Group sales up 2.7% at £10.3bn 
-Underlying profit before tax -3.9%3 to £623m 
-International sales +6.2%
-Asia sales +15.7%
 
M&S also reported sales in India, one of its priority markets, were up strongly with 13% like-for-like growth on the previous year. 
 
2013/14 saw M&S continued to grow its presence in the Indian market through its partnership with Reliance Retail with the opening of 10 new stores. This included doubling its presence in Mumbai and opening its new Flagship store at Hill Road, Bandra in November. M&S also extended its reach across the country as it entered new secondary cities such as Kochi, Kanpur and Surat for the first time. 
 
M&S trades from over 500,000 square feet across 40 stores in India. The retailer plans to build a leadership position in the Indian market, targeting a total of 100 stores by 2016 including c.20 Marks & Spencer Lingerie & Beauty stores. 
 
The first standalone lingerie and beauty store officially opened at Infinity II shopping mall in Mumbai this May. The move capitalises on the growth opportunities in the lingerie and beauty in the Indian market – M&S saw its lingerie and beauty sales increase by 38% and 26% respectively on the previous year. 
 
Venu Nair, Managing Director of Marks & Spencer Reliance India, said, “During the year our stores in India delivered a good performance with strong double digit growth. Our exceptional quality, stylish products continue to resonate with our customers in India and the strong performance of our lingerie and beauty offer presents us with an exciting growth opportunity. 
 
“Together with our partner Reliance Retail, we are continuing to invest into accelerating our growth in India as we build a leadership position in the market.”
 

Marks & Spencer


Must ReadView All

Textiles | On 25th Sep 2017

SVP Group to build $300 mn spinning plant in Sohar

ShriVallabh Pittie Industries (SVP) Group, a diversified yarn...

Apparel/Garments | On 25th Sep 2017

Vietnam textile sector to gain if EU FTA gets ratified

Experts feel the Vietnam-European Union (EU) free trade agreement...

Courtesy: Business Wire

Textiles | On 25th Sep 2017

Invista to use ADN technology at joint project in France

Invista, a leading producer of chemical intermediates, polymers, and...

Interviews View All

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Top executives
Textile industry

The foremost issue is bridging the skill gap

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...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Karan Arora
Karan Arora

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

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

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