Marks & Spencer sees food sales rise despite online problems
Despite heavy losses for Marks and Spencer (M&S) online, the department store chain has reported growth in food sales.
M&S released its first-quarter (Q1) sale results this morning (8 July) which revealed an 8.1% decline in online sales after the launch of its new online site for the first 13 weeks to 28 June. M&S chief executive Marc Bolland admitted: “The settling in of the new M&S.com site has had an impact on sales.”
However, this was partly offset by increased food sales which were up 4.2% (+1.7% like-for-like). M&S also launched 700 new food products in Q1. “Our Food business had another great quarter, continuing to outperform the market, through our focus on differentiation through quality and innovation,” Bolland explained.
Increased food sales had an impact on overall group sales which were up 2.3% alongside UK total sales which were up 2% (0.3% like-for-like).
M&S reported that it expected continued growth in food sales, with the planned opening of 150 new Simply Food stores in the next three years.
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