Marks & Spencer Group PLC
08 October 2002
MARKS AND SPENCER GROUP P.L.C.
Q2 TRADING STATEMENT
Monday 7th October, 2002
UK Trading:
UK sales (including VAT) for the 12-week period to 28th September 2002 and the
26-week half-year period to the same date were:
12 weeks to 28th September 26 weeks to 28th September
% on Last Year % on Last Year
Actual Like-for-like Actual Like-for-like
Clothing, Footwear & Gifts +13.8 +14.4
Home +15.1 +10.0
___________ ___________ ___________ ___________
General +13.9 +13.2 +14.0 +13.0
Food +7.5 +6.0 +5.0 +3.6
____________ ___________ ____________ ____________
Total +11.1 +10.0 +10.0 +8.8
____________ ___________ ____________ ____________
Sales improved in all adult clothing areas over the comparative quarter last
year, with double-digit growth being achieved in womenswear, menswear and
lingerie, resulting in an increase in overall market share.
The quarter 2 performance incorporates the first five weeks of Autumn trading.
Sales growth in clothing during September was less than the levels seen in July
and August as we started to come up against our own tougher comparatives and as
High Street conditions were less buoyant impacted by the unseasonable weather.
The planned improvement in the first-half clothing gross margin was delivered.
Stronger than budgeted gains in the primary margin were partly offset by higher
than budgeted mark-down costs, which were broadly level with last year. These
resulted from a disappointing performance in childrenswear, despite a strong
launch of the Beckham ranges in September, together with over-commitment within
womenswear, where we chased sales strongly in the Spring/Summer season during a
crucial recovery phase.
Home sales benefited this quarter from a strong August Bank Holiday furniture
event.
Our share of the food market has increased, helped by the high quality of our
products, continued innovation and strong, cohesive marketing. Food inflation
was negligible over the quarter.
Commenting on the Trading Statement, Roger Holmes, Chief Executive, said:
'I am very pleased with these results, albeit delivered against our own weak
comparatives and in buoyant High Street conditions. The improvements made to
date in clothing appeal, store ambience, food innovation and home product have
been appreciated by our customers and are delivering results. We expect high
street conditions to normalise as the year progresses but we know we can do even
more to create a better shopping experience for our customers and to recover
lost ground.'
The Interim Results will be announced on Tuesday, 5th November.
For further information, please contact:
Corporate Press Office: 020 7268 1919
Investor Relations: 020 7268 4195/6594
For photography, please visit the Image Library at:
http://www.marksandspencer.com/mediacentre
This information is provided by RNS
The company news service from the London Stock Exchange
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