M&S Clothing Sales: 12 Quarters Of Decline

Marks & Spencer (M&S) has reported some improvements in trading, but has seen a 12th consecutive quarter of declining clothing sales.

The company blamed the roll-out of its new website, which it had previously warned would take time to settle in, and said it had been less promotional in the period with an increased focus on margin.

Sales at M&S.com sank by a whopping 8.1% during the 13 weeks to 28 June on the same quarter last year.

Like-for-like clothing sales fell 0.6%, confirming 12 successive quarters of falling sales, but womenswear sales saw growth, as reported by Sky News on Monday night. 

Marks and Spencer's like-for-like food sales were up 1.7% for the same period.

The performance in clothing and the "settling in" of the new website are likely to feature heavily at the company's AGM in London today.

The firm has invested £150m in the improved online offering as it bids to become an international multi channel retailer.

The teething problems - reported to include issues with re-registration and navigation - also hit wider general merchandise sales which fell 1.5% on a like-for-like basis.

Chief executive Marc Bolland said ahead of the shareholder meeting: "We have seen a continued improvement in clothing, although as anticipated the settling in of the new M&S.com site has had an impact on sales.

"We are pleased that the womenswear business was in growth, driven by full price sales, in line with our increased focus on margin.

"Our food business had another great quarter, continuing to outperform the market, through our focus on differentiation through quality and innovation".

Mr Bolland said M&S was simplifying parts of the website, which currently has 3.2 million users, and expected the online business to be back in growth by the retailer's peak trading period which begins in November.

Shares in M&S rose 0.6% in early trading on the FTSE 100.

Anda sedang membaca artikel tentang

M&S Clothing Sales: 12 Quarters Of Decline

Dengan url

http://temannyakawanya.blogspot.com/2014/07/m-clothing-sales-12-quarters-of-decline.html

Anda boleh menyebar luaskannya atau mengcopy paste-nya

M&S Clothing Sales: 12 Quarters Of Decline

namun jangan lupa untuk meletakkan link

M&S Clothing Sales: 12 Quarters Of Decline

sebagai sumbernya