Showing posts with label retailer. Show all posts
Showing posts with label retailer. Show all posts

Wednesday, November 4, 2015

Sales fall again at Marks & Spencer

UK like-for-like sales fell by 0.4% for the period. General merchandise, which includes the clothing division, were down by 1.2%.
Food sales rose by just 0.2%. Both figures were in line with analysts' expectations.
The retailer said underlying profits rose by 6.1% to £284m, although after taking into account one-off items pre-tax profits fell 22.7% to £216m.
 
Those one-off items included almost £27m on revamping UK stores and £22m on European store costs.
M&S said that trading conditions were challenging, with the UK retail sector affected by unseasonal conditions that resulted in high levels of promotions, particularly in the first quarter.

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