admin In a trading update for the 19 weeks ended August 12, 2023, Marks & Spencer Group said like-for-like clothing & home sales grew over 6 percent, with strong growth in stores, and more subdued growth online.
Overall, group operating margin has continued to be robust, driven by strong store performance and enhanced by the store rotation and renewal programme.
“There remain considerable uncertainties about the economic outlook, and there is a risk that the consumer market will tighten as the year progresses. Nevertheless, we now expect the outcome for the year to show profit growth on 2022-23, and the interim results to show a significant improvement against previous expectations,” M&S said in a release.
M&S added that sell through rates have been robust and stock into sale was lower than planned.
The company’s interim results, for the 26 weeks ending September 30 will be reported on November 8, 2023.
