Retailer Marks & Spencer has announced that its groupsales for the second quarter of 2009/10 increased by 2.7 per cent, despite a0.5 per cent drop in overall like-for-like in its core UK market.
In a trading statement, the UK-based group said thatlike-for-like food sales during the period, covering the 13 weeks to 26September 2009, have remained unchanged compared with the same quarter a yearbefore.
Marks & Spencer said that sharper values, betteravailability and product innovation had delivered “better like for likeperformance for the fourth consecutive quarter”.
Company chairman Sir Stuart Rose said that the resultsreflected a “continuing improvement” in the group’s performance, although heemphasised that while consumers appeared to be more confident, Marks &Spencer was “cautious about the outlook”.
“We expect 2010 to be a tough year and we will continue torun the business accordingly,” he added.
Marks & Spencer will report its half-year results for the26 weeks to 26 September 2009 on 4 November 2009.
No comments yet