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Retail

M&S Food Sales Rise, Clothing Sales Fall

By square1
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M&S Food Sales Rise, Clothing Sales Fall

Marks & Spencer has reported its eighth successive quarter of falling sales in its clothing division. Like-for-like sales fell by 1.6% for the 13 weeks to June 30.  The quarterly trading update revealed that overall like-for-like sales in the UK rose by 0.3%; sales of food rose by 1.8% - assisted by product innovation, focusing on offerings for special occasions and having no involvement in the horse meat scandal. “Our general merchandise business showed some improvement this quarter and the food business delivered another excellent performance,” said M&S chief executive Marc Bolland.The retailer is adapting a new clothing strategy of higher-quality garments with a more stylish theme. The Autumn/winter ranges were announced last month; the collection received good reviews from analysts and the media with M&S shares, ring to a five-year high as a result. (Jul 9)   © 2013 - ESM: European Supermarket Magazine

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