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M&S Chairman happy with first quarter performance

03
Jul '09
MARKS AND SPENCER GROUP PLC, UK's leading retailer, we sell stylish, high quality, great value clothing and home products announces first quarter 2009/10 (Q1 2009/10) results.

MARKS AND SPENCER GROUP PLC QUARTER 1 2009/10 - INTERIM MANAGEMENT STATEMENT 13 weeks to 27 June 2009.

• Group sales +2.9%
• UK sales +1.7%: General Merchandise +1.2% (Clothing +1.4%; Home +0.1%)
• UK like for like sales –1.4%: General Merchandise -2.4%
• Online sales +28%
• International sales +15.9%

Total UK sales were up 1.7% over the period marking a further improvement in the trend seen over the last two quarters. The benefit to sales from the timing of Easter was c. 0.7% in both General Merchandise.

Clothing market share was up 30bps1 with improved performance in all areas of the business. Home sales continue to outperform the market.

International performed well with sales up 15.9%. M&S Direct had another strong quarter with online sales up 28%.

Sir Stuart Rose, Chairman said:
“We are pleased with the improving trend in our performance. This demonstrates that the actions we are taking are working. Customers have responded well to our initiatives particularly our 125th anniversary campaign, and recently voted us the UK's most trusted retail brand2.

“Consumer confidence appears to be stabilising. However, we remain cautious about the outlook for the remainder of this and next year and will continue to run the business accordingly.”

Marks and Spencer Group plc will report its Q2 trading for the 13 weeks to 26 September 2009 on 30 September 2009.

MARKS AND SPENCER GROUP PLC


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