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M&S Q1 2018 clothing & home revenue down 0.5%
13 Jul '17
1 min read
For the first quarter of 2018, clothing and home revenue of UK retailer M&S was down 0.5 per cent. Full price sales of clothing and home were up approximately 7 per cent, as there was a reduction in the number of promotions and there was no clearance sale in the quarter compared with last one year. The group's revenue increased 2.7 per cent for Q1 2018.
"Trading in the first quarter was in line with our expectations and we are on track with delivery of the plan we announced last year. I am pleased that we continue to grow full price sales in clothing and home, with reduced discounting and no clearance sale in the quarter," said Steve Rowe, M&S chief executive.
The summer sale for clothing and home began a week later than last year, with terminal stock for the season significantly down. (RR)
Fibre2Fashion News Desk – India
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