M&S suffers yet another fall in total UK sales
High Street staple Marks & Spencer has posted a poor festive performance after reporting a 0.2 per cent fall in like-for-like sales in the UK over the third quarter.
A saving grace for the firm was a late 1 per cent uptick in sales over the crucial 8 week Christmas trading period, although this was powered largely by heavy discounting.
Varying fortunes at M&S’s different divisions were reflected in the final figures, with a rise in food sales of 1.6 per cent more than offset by a 2.1 per cent decline at its clothing and homeware unit.
A rosier picture was painted by M&S.com which registered a healthy 22.7 per cent increase whilst international sales grew a respectable 4.5 per cent.
M&S 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 GM sales down strongly, has resulted in a quarterly performance below our expectations.
"Our Food business had an excellent quarter, with 4.1% growth and record sales over the Christmas period, including our biggest day ever in food of £64m on the 23rd December.
"M&S.com also had a great quarter with sales up 23%, strongly ahead of the market. Our strategy to transform M&S into an international, multi-channel retailer, will keep on improving our .com service with the launch of our new platform and our new warehouse at full capacity.”
Bolland has reshuffled key staff and introduced a new clothing range promoted by the likes of Helen Mirren in an effort to turn around the fortunes of its clothing and homeware division.