M&S recovery 'on observe' as it slows decline in fashion sales – Drapers

Complete clothes and residential sales have been down zero.5% to £852.1m for the 13 weeks to July – slowing from the two.eight% fall reported for the yr to April.

General income, together with its meals division, rose 2.7% yr on yr to £2.5bn through the quarter.

M&S decreased the variety of promotions it held and pushed its clearance Sale again to this week – per week later than final yr.

It additionally reported a big lower in the quantity of inventory going into the Sale.

Chief government Steve Rowe stated: “Buying and selling in the primary quarter was in line with our expectations and we're on observe with supply of the plan we introduced final yr. I'm happy that we proceed to develop full-value sales in clothes and residential, with decreased discounting and no clearance Sale in the quarter.”

The outcomes come as former Halfords boss Jill McDonald prepares to take up the newly created position of managing director for M&S’s clothes and residential division. Her begin date has but to be confirmed. 

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M&S recovery 'on observe' as it slows decline in fashion sales - Drapers