14:06 11 April 2013
The well-known group Marks and Spencer (or M&S) has seen an increase in sales it has come to light on Thursday, 11th April. The news comes as the firm has reported its figures for the first three months of this year. This relates to the period up to 30th March 2013.
Their like-for-like sales in Britain increased by 0.6per cent for this period in comparison to the results from 2012, according to Marks and Spencer.
Although sales were up with regards to Food, with the group experiencing a 4per cent increase, sales were down for their general merchandise. This also includes clothing. M&S reported that these sales had decreased by 3.8per cent.
This however, is better than what many experts expected. According to reports it was thought clothing sales could have gone down by as much as 6per cent.
The Chief Executive of M&S, Mark Bolland, has said: “We are working hard on improving our performance in general merchandise, and despite difficult trading conditions, we made progress in our operational execution.”
Mr. Bolland added: “We delivered an excellent result in food, with performance well ahead of the market, as customers continued to trust us for provenance and quality. We are increasingly seen as the destination shop for special occasions.”
Arguably many retailers may have prepared for a tough year when it comes to sales given the financial situation in the UK. The Chief also related to ‘pressure’ on shoppers’ ‘disposable incomes’.
One area of the business that is widely recognised in particular is M&S’ Food (many people in the UK can relate to their food adverts).
An area affecting some high street firms is that many people seem to be buying products from the internet these days. In particular, aside from electronics, there are many websites which specialise in clothes sales.
M&S has its headquarters based in London. It has many hundreds of stores in Britain, with also a number of shops internationally. Marks and Spencer first opened in Leeds, in the North of England, in the late 1880s.
Disclaimer: Supanet is not responsible for, and disclaims any and all liability for the content of comments written by contributors to this website
x Share us on Facebook