M&S Sees Clothing Sales Fall As Food Goes Up

Written By Unknown on Kamis, 11 April 2013 | 14.44

Retailer Marks and Spencer has reported a drop of 3.8% in like-for-like clothing sales for the first three months of the year, as food sales rose 4%.

It was the seventh consecutive quarterly fall in underlying general merchandise sales, though the outcome was a touch ahead of expectations.

Marks & Spencer, which has been the subject of takeover speculation, said sales of its non-food products, spanning clothing, footwear and homewares, at stores open over a year dropped in the 13 weeks to March 30.

As a result of the boost by food, total group sales in the period rose by 3.1%.

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