M&S Christmas Clothing Sales Fall 2.1%

Extended pre-Christmas discounting by Marks & Spencer has failed to spark sales growth in the company's troubled clothing lines.

M&S confirmed to the City that it had suffered its tenth consecutive quarter of falling sales in its general merchandise division, dropping 2.1% on a like-for-like basis in the eight weeks to December 24.

The group admitted that a series of discounts to drive seasonal sales - which included a pre-Christmas "Mega Day" with reductions of up to 30% on clothing lines - would hit profit margins when full-year results are reported later this year.

Total UK sales fell by 0.2% over the same period on a like-for-like basis - with its popular food offering propping up its performance with growth of 1.6%.

In the quarter ending December 28, total sales rose by 1.5%.

Chief executive Marc Bolland said: "We delivered an improved performance in General Merchandise over the important Christmas period, with sales up 1.5% in a highly promotional market.

"However, an exceptionally unseasonal October, which saw General Merchandise sales down strongly, has resulted in a quarterly performance below our expectations."

More follows...

Anda sedang membaca artikel tentang

M&S Christmas Clothing Sales Fall 2.1%

Dengan url

http://raskindollar.blogspot.com/2014/01/m-christmas-clothing-sales-fall-21.html

Anda boleh menyebar luaskannya atau mengcopy paste-nya

M&S Christmas Clothing Sales Fall 2.1%

namun jangan lupa untuk meletakkan link

M&S Christmas Clothing Sales Fall 2.1%

sebagai sumbernya