Marks and Spencer see third consecutive rise in quarterly sales
Marks and Spencer see third consecutive rise in quarterly sales
Wednesday 7th July 2010
Marks and Spencer today revealed its third consecutive rise in quarterly sales, but warned that the Budget had made it cautious about the months ahead.In its interim management statement for quarter one of the 2010/2011 financial year the retailer said group sales were up 4.4 per cent, and total UK sales 4.8 per cent.
M&S Direct had a strong quarter, the firm said in a statement, with sales up 49 per cent.
Marc Bolland, M&S chief executive said: "Marks & Spencer has delivered another good sales performance in the first quarter, continuing the progress made by the team over the previous year.
"We have continued to grow market share across all parts of the business as customers recognised the strength of the Marks & Spencer brand and the great quality and value it represents."
However, the firm added that "following the recent Budget and the actions proposed to reduce the national deficit, including the increase in VAT, we are cautious about the outlook for consumer confidence and spending and continue to manage the business accordingly".
Related News
BP oil spill latest: Cost surpasses $3 billion mark - 05/07/10
The cost of the BP oil spill has surpassed the $3 billion mark, the oil giant said in statement today
The cost of the BP oil spill has surpassed the $3 billion mark, the oil giant said in statement today
Australian government and miners reach deal over tax plans - 02/07/10
Australia's new prime minister Julia Gillard and mining companies have reached a deal over plans to tax miners' profits at 40 per cent
Australia's new prime minister Julia Gillard and mining companies have reached a deal over plans to tax miners' profits at 40 per cent
Toyota recalls thousands more cars due to engine fault - 02/07/10
The latest in a series of quality control failures at Toyota has seen the manufacturer recall 270,000 cars worldwide
The latest in a series of quality control failures at Toyota has seen the manufacturer recall 270,000 cars worldwide
EU brings in greater consumer protection for mobile charges - 01/07/10
New rules have come into force across the EU today to provide greater protection for those using mobile phones abroad
New rules have come into force across the EU today to provide greater protection for those using mobile phones abroad
News Article Search
Quick Apply
News Archive