The group has released a better Q3 19/20 trading performance in the UK in both the food and clothing businesses, which confirms that the appetite of UK consumers remained solid during the festival period. However, the limited sales progression in the clothing business (-1.7% lfl vs. -5.5% lfl in H1 19/20) has disappointed the market. Also, management’s more cautious stance on the gross margin’s guidance was clearly not reassuring.
09 Jan 2020
Limited sales progression in clothing disappoints the market
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Limited sales progression in clothing disappoints the market
Marks and Spencer Group plc (MKS:LON) | 265 0 0.0% | Mkt Cap: 5,377m
- Published:
09 Jan 2020 -
Author:
Jie Zhang -
Pages:
2
The group has released a better Q3 19/20 trading performance in the UK in both the food and clothing businesses, which confirms that the appetite of UK consumers remained solid during the festival period. However, the limited sales progression in the clothing business (-1.7% lfl vs. -5.5% lfl in H1 19/20) has disappointed the market. Also, management’s more cautious stance on the gross margin’s guidance was clearly not reassuring.