M&S delivers strong sales performance
UK Sales for the 13 weeks to 1 July 2006 were +10.4 per cent in total with General Merchandise +11.7 per cent and Food +9.2 per cent.
Within this Clothing was +10.7 per cent and Home +23.3 per cent. The inclusion of Easter in the first quarter this year added around 0.8 per cent
to both general merchandise and food sales.
Stuart Rose, Chief Executive said ‘This is an encouraging performance, albeit against soft comparatives last year.
We continue to focus on improving product, service and the refurbishment of our store portfolio, 42 of which are currently under development. Market share continues to grow. We are creating 4,000 new jobs in our stores to satisfy extra demand and the new space coming on stream. Despite the challenging trading environment, we are confident that we can continue to drive the business profitably.’
M&S confirmed that Paul Myners will step down as Chairman at the AGM later today. He will be succeeded by Lord Burns.
