Business
Interim Management Statement
Interim Management Statement.
About this update from Marks And Spencer Group Plc
[{"type":"text","content":"\n \nRNS Number : 6922L Marks & Spencer Group PLC 08 July 2014 \n \n\n \n \n \nIssued: 8 July 2014 \n \nMARKS AND SPENCER GROUP PLC\nQUARTER 1 2014/15 TRADING STATEMENT\n13 weeks to 28 JUNE 2014\n \n'Womenswear in growth'\n \n· Group sales1 +2.3%\n· UK: total sales +2.0%, like-for-like +0.3%\n· GM: total sales -0.8%, like-for-like -1.5%\n· Clothing: total sales +0.1%, like-for-like -0.6%\n· Food2: total sales +4.2%, like-for-like +1.7%\n· M&S.com -8.1%\n· International sales1 +4.7%\n \n1Stated on ex-VAT and constant currency basis. International sales at actual currency were +0.1% on the year for the quarter.\n2 Adjusting for impact of later Easter timing, total Food sales were +2.6%, like-for like +0.1%\n \nMarc Bolland, Chief Executive said: \n\"We have seen a continued improvement in Clothing, although as anticipated the settling in of the new M&S.com site has had an impact on sales. We are pleased that the Womenswear business was in growth, driven by full price sales, in line with our increased focus on margin. Our Food business had another great quarter, continuing to outperform the market, through our focus on differentiation through quality and innovation.\" \n \nTrading summary\nWomenswear sales were up as a result of stronger full price sales and uplift from seasonal and fashionable products. In General Merchandise, we are continuing to see progress in our Clothing business with customers increasingly buying into the improvements we have made to quality and style. In line with our increased focus on margin, we were less promotional, both online and in stores. While this has affected the sales performance, particularly online, we are on track to deliver our full year gross margin guidance. \n \nAs anticipated, General Merchandise...