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LONDON, Jan 8 (Reuters) - Marks & Spencer on Friday
reported another big fall in clothing and homewares sales in its
Christmas quarter, as the COVID-19 pandemic hit demand and
restrictions to stem the spread of the virus closed stores.
Marks & Spencer (M&S), one of the best known names in
British retail, said revenue in its clothing and home division
slumped 25.1% in the 13 weeks to Dec. 26, its fiscal third
quarter, having fallen 21.3% in the previous quarter.
"Near term trading remains very challenging but we are
continuing to accelerate change under our Never the Same Again
programme to ensure the business emerges from the pandemic in
very different shape," said Chief Executive Steve Rowe.
The group said "good progress" in repositioning clothing and
home ranges and buying was concealed by the COVID-19
restrictions and demand distortions.
It said a store sales decline of 46.5% was partly offset by
online sales growth of 47.5%.
M&S said food sales were up 2.2% in the quarter, having
increased 1.6% in the second quarter.
It said food performed well in the four-week lead up to
Christmas, with like-for-like sales, excluding hospitality and
franchise up 8.7%, with large retail park and Simply Food stores
significantly outperforming.
M&S's international revenue decreased 10.4% impacted by
changing restrictions related to the pandemic across the world.
(Reporting by James Davey; Editing by Kate Holton and Jane
Merriman)
Marks & Spencer (MKS)