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M&S posts 3.3% rise in Q1 sales

RBR Staff Writer Published 10 July 2013

British retail major Marks and Spencer Group (M&S) has reported 3.3% increase in sales for the first quarter (Q1) ended 29 June 2013, compared to the previous year period.

The UK total sales grew 2.7% during the same period, with a 4.5% rise in the food category and a 0.5% growth in the general merchandise sales.

The improvement seen in general merchandise sales was due to intensified promotional activity in the market.

Like for like UK sales increased 0.3%. The chain's food like for like sales were up 1.8%, while general merchandise like for like sales were down 1.6%.

International sales climbed 8.7%, on constant currency basis, with strong growth in India, China and the Middle East.

M&S.com sales increased 29.9%, as against last year. The company's new web platform is on track to launch in Spring 2014.

The retailer's new Autumn/Winter collection is expected to hit stores and online from the end of July with a full launch slated in September.

M&S chief executive Marc Bolland said, "Our General Merchandise business showed some improvement this quarter and the Food business delivered another excellent performance, continuing the strong underlying trend.''