Thanks to Christmas, Marks and Spencer records growth in sales
Thanks to Christmas, Marks and Spencer records growth in sales

Retailer Marks and Spencer announced that its sales rose for the first time in two years, reporting a 2.6% increase in total group sales for the quarter ending December 26, 2009, while UK sales improved 2.3% and like-for-like sales added 0.8%, with online sales soaring 32%, which the retailer called a successful performance during the important Christmas period. 

General merchandise sales improved 1.2%, mostly due to a 4% increase in clothing sales, while food sales added 1.3%. The group posted its biggest ever Christmas fortnight, with record one day sales of over £50 million on December 23, 2009. 

The guidance on gross margin, operating costs and capex (capital expenditure) for the current financial year was left unchanged, with the retailer expecting a one-off finance charge of £14 million and offering a cautious outlook. 

“We expect the trading conditions over the coming year to remain challenging as a result of continuing economic uncertainty,” said Chairman of Marks and Spencer Stuart Rose.

 
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