RNS Number : 8694U
Marks & Spencer Group PLC
01 July 2009
Issued: 1 July 2009
MARKS AND SPENCER GROUP PLC
QUARTER 1 2009/10 - INTERIM MANAGEMENT STATEMENT
13 weeks to 27 June 2009
Group sales +2.9%
UK sales +1.7%: General Merchandise +1.2% (Clothing +1.4%; Home +0.1%); Food +2.0%
UK like for like sales -1.4%: General Merchandise -2.4%; Food -0.5%
Online sales +28%
International sales +15.9%
Total UK sales were up 1.7% over the period marking a further improvement in the trend seen over the last two quarters. The benefit to sales from the timing of Easter was c. 0.7% in both General Merchandise and Food.
Clothing market share was up 30bps1 with improved performance in all areas of the business. Home sales continue to outperform the market. In Food, the actions we have taken to improve value, availability and product innovation have delivered better performance for the third consecutive quarter.
International performed well with sales up 15.9%. M&S Direct had another strong quarter with online sales up 28%.
Sir Stuart Rose, Chairman said:
'We are pleased with the improving trend in our performance. This demonstrates that the actions we are taking are working. Customers have responded well to our initiatives particularly our 125th anniversary campaign, and recently voted us the UK's most trusted retail brand2.
'Consumer confidence appears to be stabilising. However, we remain cautious about the outlook for the remainder of this and next year and will continue to run the business accordingly.'
Marks and Spencer Group plc will report its Q2 trading for the 13 weeks to 26 September 2009 on 30 September 2009.
1 TNS Total Clothing and Footwear 12 weeks ending 24 May 2009 10.3% v 10.0% 12 weeks ending 25 May 2008
2 YouGov survey May 2009
Statements made in this announcement that look forward in time or that express management's beliefs, expectations or estimates regarding future occurrences and prospects are 'forward-looking statements' within the meaning of the United States federal securities laws. These forward-looking statements reflect Marks & Spencer's current expectations concerning future events and actual results may differ materially from current expectations or historical results. Any such forward-looking statements are subject to various risks and uncertainties, including failure by Marks & Spencer to predict accurately customer preferences; decline in the demand for products offered by Marks & Spencer; competitive influences; changes in levels of store traffic or consumer spending habits; effectiveness of Marks & Spencer's brand awareness and marketing programmes; general economic conditions or a downturn in the retail or financial services industries; acts of war or terrorism worldwide; work stoppages, slowdowns or strikes; and changes in financial and equity markets.
Amanda Mellor +44 (0)20 8718 3604
Majda Rainer +44 (0)20 8718 1563
Corporate Press Office: +44 (0)20 8718 1919
Investors & Analysts Conference Call:
This will be hosted by Stuart Rose at 08.40 (GMT) on Wednesday 1 July 2009:
Dial in number: +44 (0) 207 190 1595
A recording of this call will be available until Wednesday 8 July 2009:
Dial in number: +44 (0) 207 190 5901
Access Code: 142042#
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