Home / Knowledge / News / Apparel/Garments / M&S Q1'FY15 clothing segment sales remain stable
M&S Q1'FY15 clothing segment sales remain stable
08
Jul '14
Marks and Spencer Group Plc announces first quarter results for 2014/15.
 
M&S group sales increased 2.3%, wherein UK’s total sales were up by 2.0%, like-for-like +0.3%. GM’s total sales drop 0.8%, like-for-like -1.5%. Clothing segments total sales lift by 0.1%, like-for-like -0.6%. Food segment total sales up by 4.2%, like-for-like +1.7%.Online sales for M&S.com slip by 8.1% and International sales increase by 4.7%, stated on ex-VAT and constant currency basis. International sales at actual currency were +0.1% on the year for the quarter. Adjusting for impact of later Easter timing, total Food sales were +2.6%, like-for like +0.1%
 
Marc Bolland, Chief Executive said, “We have seen a continued improvement in Clothing, although as anticipated the settling in of the new M&S.com site has had an impact on sales. We are pleased that the Womenswear business was in growth, driven by full price sales, in line with our increased focus on margin. Our Food business had another great quarter, continuing to outperform the market, through our focus on differentiation through quality and innovation.” 
 
Trading summary
Womenswear sales were up as a result of stronger full price sales and uplift from seasonal and fashionable products.  In General Merchandise, we are continuing to see progress in our Clothing business with customers increasingly buying into the improvements we have made to quality and style. In line with our increased focus on margin, we were less promotional, both online and in stores. While this has affected the sales performance, particularly online, we are on track to deliver our full year gross margin guidance. 
 
As anticipated, General Merchandise sales were impacted by the settling in of the new .com site. The new web platform has been technically resilient and we have received positive customer feedback on the website’s enhanced fashion and style content. As previously indicated, we are now focussed on optimising the website commercially, with updates made on a regular basis. We have recently seen a gradual improvement in sales performance, despite a lower level of promotional activity. We expect to return to growth ahead of our peak trading period.
 
Our Food business had a great quarter with our strategy to be more specialist setting us apart from the competition. We continue to outperform the market as customers continue to come to us for unrivalled quality and innovation, whether for their special events or great everyday value.  With value top of mind for customers, we remained price competitive while protecting our gross margin. We launched some 700 new products giving customers more choice than ever. We are on track with the pipeline of 150 new Simply Food stores opening over the next three years.
 
Our International business continued to perform well, with particularly strong performance in our priority markets. Trading conditions in the Republic of Ireland continue to be challenging. Sales performance in the Middle East was impacted by the timing of shipments to our franchise partners. 

Marks & Spencer

Must ReadView All

Courtesy: Applied DNA Sciences

Apparel/Garments | On 24th Feb 2017

SigNatureT DNA can help prevent apparel counterfeiting

SigNatureT DNA is forensic molecular tag by Applied DNA Sciences...

Textiles | On 24th Feb 2017

Pakistan's textile exports down 1.54% in July-Jan FY17

The value of textile and garment exports made by Pakistan decreased...

Courtesy: The Irish News/Christian Cowan (Google)

Fashion | On 24th Feb 2017

Google & Christian Cowan create 'really blue' jeans

Google has partnered with British fashion designer Christian Cowan to ...

Interviews View All

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Mohammad Hassan
Biax Fiberfilm

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

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search