Tuesday, September 28, 2021

M&S clothing grows for first time in 2 years

An overhaul of its ailing clothing brand saw Marks & Spencer return the range to growth for the first time since 2015.

In the 13 weeks to December 31 the retailer‘s clothing and home division saw like-for-like sales rise by 2.3 per cent. 

Its food arm also reportedly rose by 0.6 per cent.

The department store chain was cautious to celebrate the result, stating that around 1.5 per cent of the clothing sales boost was down to extra trading days. 

It went on to warn that this may produce a knock-on hit to the fourth quarter results, due to a late Easter and the timing of sales.

READ MORE: M&S expected to see first growth in 6 years

The boost in clothing sales was attributed to the retailer‘s new strategy, cutting prices for nearly a third of its ranges and increasing shop floor staff.

“I am pleased with the customer response we have seen to the changes we are making in line with our plan for the business.” chief executive Steve Rowe said. 

Plans are set to go ahead for the closure of 30 stores and the conversion of 45 more removing the clothing lines and focusing on its more lucrative food arm.

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