Food stays strong for M&S
Marks & Spencer’s food business has continued to deliver strong sales in its food sector, with sales up 4.5% for the first quarter.
In a first quarter (Q1) management statement for the 13 weeks to 29 June M&S revealed its food business had delivered “another excellent performance”, which is a strong underlying trend, it said.
Chief executive Mark Bolland said international business had also performed well in Q1 and sales were strong. He said: “We continue to make good progress with our plans to transform M&S into an international, multi-channel retailer.”
The retailer said the driving force behind the food businesses’ success was through customers targeting the supermarket for special occasions, as well as everyday products. M&S said: “Our operational execution continues to improve, delivering further increases in availability.”
Meanwhile, group sales for the company are up 3.3% on the quarter, total UK sales are up 2.7% and international sales have risen by 8.7%.
M&S added: “Given the challenging trading conditions, we remain cautious about the outlook and continue to manage the business tightly.”
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- food stays strong
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- Q1 results