Marks & Spencer Group PLC
10 July 2007
Issued: 10 July 2007
MARKS AND SPENCER GROUP PLC
FIRST QUARTER 2007/08 - INTERIM MANAGEMENT STATEMENT
13 weeks to 30 June 2007
• Group sales up 7.0%
• UK sales up 6.4%: General Merchandise up 4.3%; Food up 8.5%
• UK like for like sales up 2.0%: General Merchandise up 2.9%; Food up 0.7%
• International sales up 14.8%
UK sales increased 6.4% in total and 2.0% on a like for like basis,
consolidating the market share gains made over the last year. This performance
was achieved against strong prior year comparatives and at a time when
c. 3m sq ft of trading space was disrupted by the store refurbishment programme.
In Clothing, overall sales were up 3.5%. Sales in Home increased 13.4%. Food
sales grew by 8.5% with further growth in market share. Over the quarter we
opened 33 more Simply Food stores including 21 on BP forecourts.
International has performed well over the period with sales up 14.8%. We opened
10 stores during the quarter, including our first stores in Lithuania, Taiwan
and Ukraine.
We continue to invest in our business and will deliver our guidance of 4.5% new
space this year. The store modernisation programme is on track for us to have
70% of our store portfolio completed for the critical Christmas period. M&S
Direct is making good progress and continues to drive traffic and conversion.
Stuart Rose, Chief Executive said:
'Rising interest rates, general uncertainty over consumer spending, and extreme
weather conditions combined to make market conditions particularly volatile over
the quarter.
We believe that the short term trading environment will remain very challenging,
but our plans are unchanged. We are confident that our focus on product, service
and environment and our investment in the brand will ensure we continue to make
progress.'
Reporting Timetable 2007/08
The Company will next report on 6 November 2007 when we will announce our second
quarter trading together with the Interim Results. The third quarter interim
management statement will be released in January 2008. Fourth quarter trading
and Preliminary Results will be announced in May 2008.
Statements made in this announcement that look forward in time or that express
management's beliefs, expectations or estimates regarding future occurrences and
prospects are 'forward-looking statements' within the meaning of the United
States federal securities laws. These forward-looking statements reflect Marks &
Spencer's current expectations concerning future events and actual results may
differ materially from current expectations or historical results. Any such
forward-looking statements are subject to various risks and uncertainties,
including failure by Marks & Spencer to predict accurately customer preferences;
decline in the demand for products offered by Marks & Spencer; competitive
influences; changes in levels of store traffic or consumer spending habits;
effectiveness of Marks & Spencer's brand awareness and marketing programmes;
general economic conditions or a downturn in the retail or financial services
industries; acts of war or terrorism worldwide; work stoppages, slowdowns or
strikes; and changes in financial and equity markets.
Contacts:
Investor Relations:
Amanda Mellor +44 (0)20 8718 3604
Majda Rainer +44 (0)20 8718 1563
Corporate PR: +44 (0)20 8718 1919
Corporate PR (out of hours): +44 (0)20 8718 2000
Investors & Analysts Conference Call:
This will be hosted by Stuart Rose and Ian Dyson at 08.30 (BST) on Tuesday 10
July 2007:
Dial in number: +44 (0) 20 8515 2301
A recording of this call will be available until Tuesday 17 July 2007:
Dial in number: +44 (0) 20 7190 5901
Access Code: 136223#
This information is provided by RNS
The company news service from the London Stock Exchange
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