Home / Knowledge / News / Apparel/Garments / M&S - good Q2; customers are returning to quality
M&S - good Q2; customers are returning to quality
07
Oct '10
Marks and Spencer Group Plc announced Trading Statement for Q2, 2010/11.

Marc Bolland, Chief Executive said:
“Marks & Spencer has had a good second quarter, growing market share across all parts of the business. Customers are returning to quality. In Food they are responding well to our better value and innovation, and in Clothing are increasingly choosing M&S's great fashions and quality that lasts.”

Trading summary
Clothing market share was up 70bps to 10.3%1 with growth across all areas. We delivered stronger fashions for our customers, keeping our ranges fresh throughout the summer. New styles, fabrics and colours led to better choice with products to suit every budget.

We continued to offer great value for money, while delivering improved fit and quality. We introduced a number of innovative new products such as our new '2 sizes bigger' bra and 'Miracle' crease resistant linen. With economic uncertainty putting a strain on household budgets, customers are returning to quality in areas such as men's suits and knitwear. We have also seen a positive response to increased investment in marketing. Our latest advertising campaign has driven even more customers into our stores and has, for example, helped deliver a record autumn season on women's footwear.

We maintained our exceptional quality standards, as recognised by over 30 awards. We were named Supermarket of the Year at the International Wine Challenge Awards for a record 3rd year running.

M&S Direct had a strong quarter with sales up 49%. 'Shop Your Way', our multi-channel ordering service, has now been rolled out to 434 stores as planned, and continues to be very popular with customers.

International sales were up 6.2%, as a result of improved performance across most of our markets although the trading conditions remain difficult in Ireland and Greece.

Outlook
Trading conditions ahead are likely to become more challenging. Consumers' disposable incomes will come under greater pressure from increased VAT rates and public spending cuts. We are facing increased commodity prices and significantly tougher comparatives in the second half. As a result we remain cautious about the outlook for the remainder of this year and next. However, our unrivalled value, innovation and quality will ensure that we are well positioned to meet the changing needs of our customers through the all important Christmas period and beyond.

Guidance
Existing guidance for the financial year 2010/11 remains unchanged. However, as a result of increased investment in marketing and higher volumes, operating costs before bonus are now expected to be at the top end of the previously guided range of +4 to 5%.

Marks and Spencer Group plc will report its half year results for 26 weeks ending 2 October 2010 on 9 November 2010.

Marks and Spencer Group Plc


Must ReadView All

Apparel/Garments | On 23rd Sep 2017

AAFA urges negotiators to preserve TPLs in NAFTA

The American Apparel & Footwear Association (AAFA), an alliance of...

Textiles | On 23rd Sep 2017

SIMA urges Centre to re-look duty drawback rates

he Southern India Mills’ Association (SIMA) has appealed to the...

Textiles | On 23rd Sep 2017

PKR 690.65-mn budget for Pakistan Cotton Committee

The Pakistan Central Cotton Committee (PCCC) recently approved a PKR...

Interviews View All

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Marten Alkhagen
Swerea IVF AB

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

Urs Stalder
Sanitized AG

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

Igor Chapurin
Chapurin

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

Jay Ramrakhiani
Occasions Elegance Wear

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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