Marks & Spencer eyes multi-channel retail following disappointing Christmas trading.
Marks & Spencer looks set to ramp up its ecommerce offer and increase its multi channel focus following disappointing Christmas sales, with it's general merchandise sales falling by 1.8 per cent year-on-year..
The company has claimed a rise in group sales of 0.6 per cent, with total UK sales increasing by 0.3 per cent, having offered fewer promotions over the festive buying period than many of its high street competitors.
Food sales grew by 0.3 per cent while multi-channel grew by 10.8 per cent.
A statement by Marc Bolland, chief executive of Marks & Spencer, said: "Our Food business has performed very well with record sales over the key Christmas trading period. Our General Merchandise performance is not yet satisfactory but we are confident that the steps being taken by the new management team will address this.
As a result of the increase in multi-channel sales, Bolland indicated that the company was set to invest in its online presence in order to improve sales.
"Our plan is to transform Marks & Spencer from a traditional UK retailer to an international multi-channel retailer. We are making good progress against this plan.
"We are pleased with our Multi-channel and International performance," he added.
The trading figures were released this morning having been leaked on Sky News last night.