Marks & Spencer Group PLC
10 July 2002
m press release
Issued: 10 July 2002
MARKS & SPENCER QUARTER 1 TRADING STATEMENT
UK Trading
UK sales (inc. VAT) for the 14 weeks ended 6th July progressed by +9.1%. Details
are shown below:
14 weeks to
6th July
% on last year
Clothing, Footwear and +14.8%
Gifts
Home +5.9%
____
General Merchandise +14.0%
Food +2.9%
_____
Total +9.1%
_____
Average footage during the quarter was level with last year, with a modest
reduction in General footage offset by a small increase in Food. Like-for-like
sales performance, which excludes any new, closed or redeveloped stores, was
+12.7% in General, +1.5% in Food and +7.7% in total.
Clothing performance of +14.8%, against comparative sales last year of -9.1%,
continues the progress made since last Autumn. Sales have improved in all adult
clothing areas, with the best performance being within womenswear.
Food sales have been impacted by the early timing of Easter. Adjusting for this,
progress would have been +4.3%, consistent with the underlying performance in
the previous quarter. Food inflation has been in decline over recent months and
averaged approximately 1% for the quarter.
Commenting on the Trading Statement, Luc Vandevelde, Chairman and Chief
Executive said:
'I am pleased with the performance over the last quarter which demonstrates we
are securing the recovery. This is the second consecutive quarter where we have
increased market share in clothing, reflecting the continuing progress we are
making in improving the appeal of our clothing and the store environment. Within
Food, we have maintained share in a very competitive market.
We were trading this quarter against weak comparative sales last year in
clothing and looking ahead our comparatives become progressively more
challenging. In addition, while current conditions on the High Street remain
favourable, the environment is likely to become less buoyant as the year
progresses. We are confident, however, that we can continue to recover lost
ground as we make on-going improvements to the appeal and quality of our ranges
and the overall shopping experience for our customers.'
For further information, please contact:
Corporate Press Office: 020 7268 1919
Investor Relations: 020 7268 4195/6594
This information is provided by RNS
The company news service from the London Stock Exchange
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