LONDON (MNI) – UK retailer Marks and Spencer total sales rose 4.0%
in the 13 weeks through January 1 2011 and like-for-like sales grew
2.8%, according to an interim management statement released today.
The upmarket retailer estimates that the exceptionally cold
pre-christmas weather, which many analysts expect to impact official
retail sales data, reduced food sales by 1% and general merchandise
sales by 3%.
Marks and Spencer said that it expects tough trading conditions in
2011.
“We continue to expect the trading conditions ahead to be more
challenging as consumers’ disposable incomes come under pressure from
increased VAT rates and the impact of public spending cuts. In addition,
we are facing increased commodity prices and significantly tougher
comparatives,” the interim statement said.
In another interim statement, released yesterday, supermarket group
Morrisons said that sales saw a slight increase in the six weeks to
January 2.
In the six weeks to 2 January total sales excluding fuel were up by
3.1% (4.7% including fuel). Like for like sales grew by 1.0% (4.0%
including fuel), the statement said.
Morrisons also said that 2011 will be a challenging year with
disposable income coming under increasing pressure.
Debenhams plc, one of the UK’s leading department store groups,
also released an interim statement which showed like-for-like sales for
the 19 weeks to January 2011 increased by 0.3% including VAT and
decreased by 1.3% excluding VAT.
Rob Templeman, Chief Executive of Debenhams, said:
“Looking forward, we are cautious about the robustness of consumer
sentiment for the remainder of the financial year.”
–London newsroom: 4420 7862 7492 e:mail ukeditorial@marketnews.com
[TOPICS: M$B$$$,MABDS$]
