Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Marks and Spencer Suffers From Poor Clothes Sales

Watch stocks you care about

The single, easiest way to keep track of all the stocks that matter...

Your own personalized stock watchlist!

It's a 100% FREE Motley Fool service...

Click Here Now

LONDON -- Marks & Spencer (LSE: MKS  )  has seen its shares drop 1.1% today after taking the unprecedented step of releasing its trading statement almost 12 hours ahead of schedule.

This came as a result of leaks to Sky News concerning figures of the FTSE 100 company's clothes and general merchandise business, which saw like-for-like U.K. sales fall 3.8% in the third quarter. Marks & Spencer chief executive Marc Bolland took the decision to put out the rest of the Q3 results earlier than scheduled.

There was good news, however, from the company's food business, which saw like-for-like U.K. sales increase 0.3% in the 13 weeks to Dec. 29, but the general merchandise's poor performance saw total like-for-like sales in the U.K. diminish 1.8%. Group sales were up 0.6%, while total U.K. sales increased 0.3% -- again, food outperformed with a 2.7% increase, and it was the general merchandise division that tempered the overall figure with a decline of 2.2%.

Bolland commented: "Our plan is to transform Marks & Spencer from a traditional U.K. retailer to an international multi-channel retailer. We are making good progress against this plan." Indeed, the company's international sales rose 4.1%, while multichannel sales increased 10.8% in the period. M&S launched free next-day store collection as part of a customer-service improvement drive, and its plans to launch the new e-commerce distribution center and the new Web platform are on track, aiming for April 2013 and spring 2014, respectively.

The stock's earlier 5% slump wrote off around 270 million pounds in value. However, the share price is slowly beginning to rebound. Whether the dip entices you to buy Marks & Spencer is, of course, up to you. 

For other FTSE 100 share possibilities, this special Motley Fool report reveals the blue-chip names held by a market-trouncing U.K. fund manager. The report, which also explains the logic behind the decisions of this super-investor, is free to download today and comes with no further obligation. Just click here to have it sent to your inbox immediately.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2189311, ~/Articles/ArticleHandler.aspx, 10/1/2016 5:16:23 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 20 hours ago Sponsored by:
DOW 18,308.15 164.70 0.91%
S&P 500 2,168.27 17.14 0.80%
NASD 5,312.00 42.85 0.81%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/30/2016 12:11 PM
MKS $329.55 Up +8.45 +2.63%
Marks & Spencer Gr… CAPS Rating: No stars