Marks & Spencer India sales up 36.2 per cent in first quarter

BY - Vaishnavi Gupta
Senior Correspondent, IndianRetailer.com & Retailer Magazine Jul 09, 2014 / 3 MIN READ

Marks & Spencer India sales up 36.2 per cent in first quarter

By PTI

NEW DELHI: British retailer Marks & Spencer (M&S) reported 36.2 per cent increase in sales in India in the first quarter of this fiscal on the back of strong performance across its linen, beachwear, lingerie and beauty segments.

"We continued to see a good performance with strong double digit growth from our stores in India during the first quarter of the year," Marks & Spencer Reliance India Managing Director Venu Nair said in a statement.

During the first quarter ended June, 2014, M&S' lingerie and beauty sales increased by 33 per cent and 38 per cent respectively compared with the sales in the previous year, the company said.

In May, M&S opened its first standalone lingerie and beauty store in Mumbai.

"The move (to open standalone store) capitalises on the growth opportunities in the lingerie and beauty in the Indian market," company added.

During the quarter, M&S' linen sales went up by 31 per cent compared with last year while beachwear sales and swimsuit sales went up by 37 per cent and 22 per cent, respectively as against last year.

In India, the company operates its stores in a joint venture partnership with Reliance Retail.

M&S today reported 2.3 per cent increase in group sales and 4.7 per cent increase in international sales in the first quarter.