Marks & Spencer (M&S) has announced that group sales increased by 4.8 per cent through the fourth quarter of 2009/10, boosted by an improvement in UK sales of 6.2 per cent.
UK food sales improved by 2.6 per cent through the 13-week period ended 27 March 2010, while the country's like-for-like food sales improved by 1.8 per cent, the group reported.
International sales, however, dropped by 5.9 per cent during the quarter, a result of difficult trading conditions in Ireland and Greece as well as adverse currency effects.
M&S said that full-year profit for 2009/10 is expected to be in the range of £620m-£630m (€706m-€718m).
'These are strong quarterly results by any measure,' said M&S chairman Sir Stuart Rose. 'They demonstrate the appeal of the M&S brand to our 21m customers and its resilience in these difficult times. The continuing improvement in our performance is the result of the actions we have taken to invest in our stores, service, product and values.'
Mr Rose noted that while the group had weathered the immediate impact of the recession, it remained cautious about its outlook for the 2010/11 campaign.
'We hope that after the election (UK general election scheduled for 6 May 2010) there will be greater clarity on economic policy and how this will impact our customers individually,' he said. 'With this will come improving consumer confidence which is so important for our business and for the economy as a whole.'
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