1st Quarter Trading Statement

Marks & Spencer Group PLC 10 July 2002 m press release Issued: 10 July 2002 MARKS & SPENCER QUARTER 1 TRADING STATEMENT UK Trading UK sales (inc. VAT) for the 14 weeks ended 6th July progressed by +9.1%. Details are shown below: 14 weeks to 6th July % on last year Clothing, Footwear and +14.8% Gifts Home +5.9% ____ General Merchandise +14.0% Food +2.9% _____ Total +9.1% _____ Average footage during the quarter was level with last year, with a modest reduction in General footage offset by a small increase in Food. Like-for-like sales performance, which excludes any new, closed or redeveloped stores, was +12.7% in General, +1.5% in Food and +7.7% in total. Clothing performance of +14.8%, against comparative sales last year of -9.1%, continues the progress made since last Autumn. Sales have improved in all adult clothing areas, with the best performance being within womenswear. Food sales have been impacted by the early timing of Easter. Adjusting for this, progress would have been +4.3%, consistent with the underlying performance in the previous quarter. Food inflation has been in decline over recent months and averaged approximately 1% for the quarter. Commenting on the Trading Statement, Luc Vandevelde, Chairman and Chief Executive said: 'I am pleased with the performance over the last quarter which demonstrates we are securing the recovery. This is the second consecutive quarter where we have increased market share in clothing, reflecting the continuing progress we are making in improving the appeal of our clothing and the store environment. Within Food, we have maintained share in a very competitive market. We were trading this quarter against weak comparative sales last year in clothing and looking ahead our comparatives become progressively more challenging. In addition, while current conditions on the High Street remain favourable, the environment is likely to become less buoyant as the year progresses. We are confident, however, that we can continue to recover lost ground as we make on-going improvements to the appeal and quality of our ranges and the overall shopping experience for our customers.' For further information, please contact: Corporate Press Office: 020 7268 1919 Investor Relations: 020 7268 4195/6594 This information is provided by RNS The company news service from the London Stock Exchange
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