Home / Knowledge / News / Apparel/Garments / Sales of formalwear & knitwear particularly strong at M&S
Sales of formalwear & knitwear particularly strong at M&S
08
Apr '10
Marks & Spencer Group Plc announced result of forth quarter 2009/10.

The reported quarter this year includes the first day of the Christmas sale which was held on 27 December. This added c. 1.3% to UK and c. 2.9% to General Merchandise total and like for like sales.

Marks & Spencer has delivered a strong performance over the quarter. Total UK sales were up 6.2% over the period, marking a further improvement in the trend seen over the last five quarters.

Sir Stuart Rose, Chairman said:
“These are strong quarterly results by any measure. They demonstrate the appeal of the M&S brand to our 21 million weekly customers and its resilience in these difficult times. The continuing improvement in our performance is the result of the actions we have taken to invest in our stores, service, product and values. In clothing we have seen a substantial increase in market share and in food we have had six consecutive quarters of improving like-for-like performance.

“We have weathered the immediate impact of the recession but remain cautious about the outlook for 2010/11 given the current challenging environment. We hope that after the election there will be greater clarity on economic policy and how this will impact our customers individually. With this will come improving consumer confidence which is so important for our business and the economy as a whole.”

Performance improved across all areas of General Merchandise, as customers continued to seek out affordable quality and style. Clothing market share was up 110bps to 11.9%1. Sales of formalwear and knitwear were particularly strong and we successfully launched our Spring collections with customers responding well to our interpretation of the season's key trends and fashions. Performance in Home was better across all the core ranges and technology.

In Food, we have delivered a sixth consecutive quarter of improved performance, as better value, availability and product innovation have continued to drive improved like-for-like sales. We continue to be first to market with exciting new ranges such as 'Simply Fuller Longer' and are on track to launch over 1,500 new lines this year.

M&S Direct had another strong quarter with sales up 48% as we extended 'Shop Your Way', our multi-channel ordering service, to over 300 stores. International sales were down 5.9%, as a result of particularly difficult trading conditions in the Republic of Ireland and Greece, and an adverse impact from currency translation.

We expect profit before tax for 52 weeks of 2009/10 (to 27 March 2010) to be in the range of £620m to £630m. The 53rd week (to 3 April 2010) is expected to contribute an additional c.£60m of profit before tax. These figures reflect gross margin better than the guidance of -50 to -100 bps, and operating costs at the top end of the 0 to +1% range. As a result of out-performance against our plan for this year, we are paying a bonus of around £80m shared by all our employees.


Must ReadView All

US FTC updates textile rules to drop obsolete requirement

Textiles | On 23rd Jan 2018

US FTC updates textile rules to drop obsolete requirement

The US Federal Trade Commission has eliminated an obsolete provision...

Indian textile industry at inflection point: Report

Textiles | On 23rd Jan 2018

Indian textile industry at inflection point: Report

The textile and apparel sector of India is at an inflection point...

Ghana to set up equipment hub for apparel sector

Apparel/Garments | On 23rd Jan 2018

Ghana to set up equipment hub for apparel sector

As part of efforts to seek ways to improve market access for Ghana’s...

Interviews View All

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Mandeep Nagi
Shades of India

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

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Urmil Arya

Sushila International, a well established textile organisation established ...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Mohammad Hassan
Biax Fiberfilm

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

Steve Cole
Xerium Technologies

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Aditi Somani
Aditi Somani

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

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

January 2018

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
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

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
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

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
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

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
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


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