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Sinfras > Clothing > Marks and Spencer slows fall in clothing sales
Clothing

Marks and Spencer slows fall in clothing sales

Loknath Das
Last updated: 2017/07/11 at 7:09 PM
By Loknath Das 1 Min Read
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Marks & Spencer

Sales at Marks and Spencer’s clothing and home division fell at a slower rate than before in the first quarter, the retailer has said.

M&S said like-for-like sales, which strip out the impact of new store space, fell by 1.2% at the division in the three months to 1 July.

This compares with a 5.9% fall in the final quarter of its financial year.

Group like-for-like sales fell by 0.5% and chief executive Steve Rowe said trading was in line with expectations.

He said that during the three months, the retailer had grown full price sales for clothing and home, adding that M&S had reduced discounting and did not have to hold a clearance sale during the period.

However, like-for-like food sales dipped by 0.1% – which was worse than expected – and without Easter falling in April, comparable revenue across the UK business would have declined further.

M&S said that the timing of Easter this year lifted food sales by 0.7% and clothing and home trade by 0.6% in the quarter.

[Source”timesofindia”]

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TAGGED: and, clothing, Fall, in, marks, Sales, slows, Spencer
Loknath Das July 11, 2017
By Loknath Das
I am a blogger with the main motive of writing articles at my choice of level. I do love to write articles and keep my website updated regularly , if you love my article then be sure to share with your friends as they would love to read my article...
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