Marks & Spencer food sales have delivered a Q4 result of consistent improvement and increased market share, according to a trading statement released on Wednesday.
Food sales in the UK were up 4.9 per cent, outstripping non-food, which fell by 3.9 per cent. “Our quality continues to set us apart,” said CEO Marc Bolland, of food sales. “
We have seen a strong improvement in sales of our healthy food.” Looking ahead to the next financial year, M&S forecasts its gross margin is likely to be zero to 25 basis points higher than last year and operating costs will increase by some five per cent.
It is planning to open new space that will add two per cent in the UK and 10 per cent to its overseas footage as it positions itself as a multi-channel international retailer.
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