Group sales stepped up by 1.8% at CER (+2.7% reported) to £2,532m in Q1. Clothing revenue retreated 1.2% lfl (-0.5% reported), pulled down by smaller markdowns. Full-price sales were up 7%. Food sales were almost flat on a lfl basis (+4.5% reported) despite food inflation of 2%. In the UK, revenue was up 2.6% to £2,259m. International sales declined by 4% at CER to £272m. Management is confident in the progress of its restructuring plan and expects the clothing business to m
11 Jul 2017
Poor growth in Q1
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Poor growth in Q1
Marks and Spencer Group plc (MKS:LON) | 265 -3.4 (-0.5%) | Mkt Cap: 5,374m
- Published:
11 Jul 2017 -
Author:
Nishant Choudhary -
Pages:
2
Group sales stepped up by 1.8% at CER (+2.7% reported) to £2,532m in Q1. Clothing revenue retreated 1.2% lfl (-0.5% reported), pulled down by smaller markdowns. Full-price sales were up 7%. Food sales were almost flat on a lfl basis (+4.5% reported) despite food inflation of 2%. In the UK, revenue was up 2.6% to £2,259m. International sales declined by 4% at CER to £272m. Management is confident in the progress of its restructuring plan and expects the clothing business to m