28/Aug/2014 - Last News Update: 09:01

Marks and Spencer reports a fall in sales

Category: Scotland

Published: 10th Jul 2012 07:47:38

Marks and Spencer has reported a drop in sales, after stock issues and the wet weather hit trading in its clothing department.

Like-for-like sales, which strip out the impact of new stores, fell by 2.8% in the UK between April and June, with total group sales falling 0.7%.

Like-for-like sales at the UK food business rose 0.6%.

The company also announced the departure of the head of general merchandise, Kate Bostock.

She will be replaced by John Dixon, who currently heads the retailer's food business, on 1 October. Mr Dixon will be replaced by Steve Rowe, currently director of retail.

"Our food business has again performed strongly," said M&S chief executive Marc Bolland.

"General merchandise underperformed in a difficult trading season. We are confident we are taking the necessary steps to address this."

The company said clothing sales had been affected by the stock issues that first hit sales in the first three months of the year. In April, M&S admitted to running out of stock in some of its best-selling lines of womenswear.

The retailer said it had "improved our buying and merchandising" to bring stock back on target for its autumn/winter collections, which will be launched later this month.

It also said the wet weather had affected the wider clothing industry.

Outside the UK, the retailer performed better, with international sales rising 0.9%.

"Our key international markets in India and China continued to trade strongly, with double digit growth," the company said.

In May, M&S reported its first fall in annual profits for three years.

Pre-tax profits for the year to the end of March were £658m, down 16% from the previous year's £781m.

Source:
BBC News External Link Show Citation

Latest News

Harvard Citation

BBC News, 2012. Marks and Spencer reports a fall in sales [Online] (Updated 10th Jul 2012)
Available at: http://www.ukwirednews.com/news/1439607/Marks-and-Spencer-reports-a-fall-in-sales [Accessed 28th Aug 2014]

News In Other Categories

  • Michael Keaton takes flight in Birdman at Venice

    Michael Keaton says playing superhero Batman has had "a profound effect" on his life as his latest movie, Birdman, opens this year's Venice Film Festival.
  • White space between TV signals could save lives at sea

    The leftover white space between TV signals is raising the hope of saving lives at sea and proving broadband for remote communities.
  • Michael Keaton takes flight in Birdman at Venice

    Michael Keaton says playing superhero Batman has had "a profound effect" on his life as his latest movie, Birdman, opens this year's Venice Film Festival.
  • Anglesey, Pembrokeshire seabirds face 'triple whammy'

    Extreme weather is taking its toll on sea bird populations in Wales, the National Trust has warned.
  • Gary Hart: Former US Senator to meet Northern Ireland parties

    Former US Senator Gary Hart will meet representatives of the Stormont Executive parties later as part of a fact-finding trip to Ireland.
  • Bristol Academy extends reach overseas with first foreign students

    With the doors to its brand new £1million training centre officially open, one of the UK's leading apprentice training providers, Bristol based S&B Automotive Academy, is showcasing its world-class facilities by launching a series of foreign student exchanges for the first time in its 41-year history. To get a flavour of what life is like as an apprentice in the UK, the Academy hosted 16 apprentice engineers and bus drivers from the G9 Automotive College in Hamburg, Germany, as part of a Europe-wide vocational training initiative called the ‘Leonardo Programme’ with support from the European Social Fund. In a reciprocal arrangement, S&B will be sending nine apprentices to Germany during February 2012 so that they can get an appreciation of life in the automotive industry on the Continent. A further three German exchange groups are being planned for next year. Designed to assist the development of vocational skills and training across Europe, including work placements for trainees, the Leonardo Programme has a budget of €1.75bn, which is helping to encourage UK organisations to work with their counterparts abroad. In what is expected to be another challenging year for employers in the UK automotive sector, S&B’s Chief Executive, Jon Winter, claims that the exchange initiative will bring many benefits to the Academy and its apprentices: “In a world of global automotive brands, it’s important for our learners to understand the international context of the industry they have chosen to make their career. This new exchange programme will enable apprentices and Academy staff alike to achieve a better understanding of the challenges and opportunities within the automotive arena in Europe. With the Academy’s influence also extending to the USA and Asia, there’s every possibility that this initiative could move further afield in the future.” Continued Winter: “The need for skilled technicians across the world is on the increase and we actively encourage our apprentices to look at broader horizons during their training. Many of them have already learned the phrase ‘Vorsprung durch Gelehrtheit’, quite simply, ‘Advancement through learning.” In the 2010/11 academic year, S&B doubled the number of successful Apprenticeships over the previous year with some 350 apprentices graduating from the Academy. At the same time, achievement levels reached an all-time high with an overall success rate of 85%. For those learners on the Advanced Apprenticeship three-year programme, success rates were even higher, at over 98%. PHOTO CAPTION: As part of their exchange visit, S&B Automotive Academy arranged for the German apprentices to visit Hampshire bus operator, Bluestar, at its Barton Park depot. The students are pictured with S&B’s Andy West (3rd right) and Steve Prewett, Bluestar’s Area Engineering Manager (2nd right). Ends http://www.sandbaa.com