Food shows its strength at M&S - Marks & Spencer reports decline in sales except for food segment - Brief Article - Statistical Data Included

Eurofood, July 19, 2001

Beleaguered UK retailer Marks & Spencer (M&S) has once again reported a decline in sales for the fourteen-week period to 7 July, with its food operations the only ray of light.

M&S said sales for the period declined 2.6%, with clothing, footwear, gifts and home furniture sales all down. However, its food unit continued its strong performance following the recent foot-and-mouth crisis, delivering sales growth of 5.9%.

However, M&S also claimed that more cost effective buying, better stock control and positive early feedback on its autumn clothing collection, could improve its performance. M&S is currently building on its food business success by running a trial format of Simply Food stores.

Marks & Spencer sales for the fourteen-week period to 7 July

Clothing, footwear, gifts    -9.1%
Home                         -1.5%
General merchandise          -8.5%
Food                         +5.9%
Total                        -2.6%

Source: M&S