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Marks & Spencer reports strong Q2 results

Published: 7 October 2010
Group sales up 6.5% for 13-week period, with home category showing the biggest rise.
Marks & Spencer reports strong Q2 results
The high street retailer reported an 8% increase in general merchandise sales for the 13 weeks ended October 2, while food was up 5.2%. Within the general merchandise category, home saw the strongest performance, up 9.3%, with clothing up 7.8%.

UK like-for-like sales for the 13-week period were up 5.3%, with general merchandise pushing ahead with a 7% increase.

Marks & Spencer chief executive Marc Bolland said: "Marks & Spencer has had a good second quarter, growing market share across all parts of the business."

Its online offer, M&S Direct also had a strong quarter, with sales up 49%. The retailer's multi-channel ordering service, 'Shop Your Way' has now been rolled out to 434 stores, allowing customers to order online and collect in store.

Looking ahead, the group remains cautious about the outlook for the rest of this year and going into next. It believes trading conditions are "likely to become more challenging", as spending cuts and the VAT rise put greater pressure on consumers' disposable incomes. Marks & Spencer added that increased commodity prices and "significantly tough comparatives" is likely o have an effect on its performance in the second half.

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