Trading Statement

Marks & Spencer PLC
23 January 2001





                                                            23rd January, 2001


                               MARKS & SPENCER

                              TRADING STATEMENT


UK: Sales (inc VAT)

Sales for the 8-week period to 20th January and the 16-week period from 1st
October, 2000 to 20th January were:

                                    8 weeks to                16 weeks to

                                   20th January               20th January

                                  % on Last Year             % on Last Year
                            Actual     Like-for-like*    Actual Like-for-like*



Clothing, Footwear and       -4.8             -           -9.3         -

Gifts

Home Furnishings             +6.7             -           +9.5         -
General                      _____          _____        _____       _____

                             -3.9           -5.5          -8.0       -9.6
Food                         +3.1           +2.3          +2.9       +2.1
Total                        _____          _____        _____       _____

                             -1.1           -2.3          -3.9       -5.1

                             ____           _____        _____       _____

  * Like-for-like sales have been estimated by comparing total sales with
    new and developed stores excluded.

Customer footfall increased over Christmas but the inconsistent appeal of our
adult clothing ranges caused lower than expected sales, leading to excess
stock and higher mark-downs to clear. Despite the higher costs of our
post-Christmas Sale, the achieved margin percentage for general merchandise
shows a significant improvement for the year to date. We will go into the
spring season with a clean stock position.

Sales of foods continue to show a steadily improving trend and the achieved
margin percentage is better than last year's level.

25 concept stores traded over the Christmas period, consisting of two new
stores (London Colney and Southampton) and 23 refurbished stores. The
refurbished stores have, in aggregate, performed approximately 4% ahead of
comparable stores.


International: Sales (in local currencies), including franchises
                                                   % on Last Year
                                           8 weeks to          16 weeks to

                                          20th January        20th January



Europe (excl. UK)                             +2.9%               +3.3%

The Americas:                                                     +4.5%
                                                                  
Brooks Brothers inc. Japan                    +1.6%               +5.5%
                                                                  
Kings                                         +4.0%

Far East                                      +3.9%               +1.5%

                                              _____               _____

Total                                         +2.8%               +4.0%

                                              _____               _____



Commenting on the Trading Statement, Luc Vandevelde, Chairman and Chief
Executive, said:

'We did not achieve the results I was looking for over the Christmas period.
Food and Home sales made further progress, but sales of clothing were poor.
The overall appeal of our adult clothing ranges was simply not good enough.

The cost effectiveness of our buying is improving and benefits are being seen
in an improved margin. We also move into spring with greater flexibility in
our buying practices that will start to address the significant
over-commitment problems we have faced in past seasons.

But I am under no illusion as to the main challenge facing the business. We
must offer our customers adult clothing ranges of consistently better design
and appeal. I am absolutely committed to making this happen.'



Future trading statements

We will in future issue trading statements in early April and early October,
in addition to the January and AGM statements. This will give a total of four
in any 12-month period timed at or close to the quarter-ends.

As a result, we will not issue trading updates at the time of our Preliminary
Results (this year, 22nd May) and Interim Results (6th November) covering
shorter periods.





                                Graham Oakley

                              Company Secretary

For further information contact :

Jane Lowe, Marks & Spencer Corporate Press Office               020 7268 6656

Tony Quinlan, Marks & Spencer Investor Relations               020 7268 4195