Marks & Spencer has seen a surge in UK sales and a gain in food market share.
The upmarket retailer saw food market share grow to 3.8 per cent while UK sales grew by five per cent, according to its 2011-12 first quarter report.
Like-for-like sales in the UK, excluding VAT, rose by 3.3 per cent.
M&S Direct sales were up 13 per cent in the quarter, with customers responding well to the convenience of its Shop Your Way multi-channel service. International sales were up 7.8 per cent, reflecting a good performance across most of our markets, the retailer reported.
M&S chief executive Marc Bolland said:“Marks & Spencer continued to grow market share in both clothing and food by offering our customers more choice, great value for money and leading innovation.
“Against the uncertain economic backdrop, we are focused on trading through the short term, while building for the long term growth of the business.”
In a statement, it added: “We continued our focus on innovation launching more than 500 new products during the quarter, including a broader choice of healthy eating options for the summer. Customers came to us for the perfect solution to their celebrations over Easter and the Royal Wedding holiday. We were well placed to benefit from customers seeking better value alternatives to eating out, with our original Dine In promotions allowing them to enjoy Marks & Spencer quality at home.”
M&S is “cautious” about the short-term outlook as trading conditions “remain challenging”.
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