UK: M&S reports rise in H1 food sales
UK food and clothing retailer Marks and Spencer has said first-half group profit before tax and exceptional items was up 19.6% at £308.2m (US$536.3m).
For the 26 weeks to 1 October 2005, total revenue (excluding VAT) was £3.65bn, up 0.6% from a year earlier. UK sales slid 0.2% to £3.3bn, while international sales rose 8.6% to £348.5m. UK food sales rose 5.6% in the first half, or 1.6% on a like-for-like basis.
The company said that its food business continues to benefit from additional retail space as it extends the Simply Food format. Six Simply Foods were opened in the first half. Since the half-year, the company has opened six trial stores on BP Connect forecourts: a further two stores open this week. Initial performance has been encouraging, the company said. It is also opening a number of new initiatives in some existing Food Halls offering 'Hot Food to Go', an eat-over delicatessen counter and a new bakery concept.
M&S said it has launched 140 new lines to its already successful 'Cook!' range, which is totally preservative and additive free. It has also made recipe changes to 450 lines within its ready meals food range to remove all artificial flavourings, artificial colourings and hydrogenated fats: most of these lines already have no artificial preservatives. The company said its TV advertising campaign is reinforcing its quality credentials with customers.
In order to explore new opportunities to develop and broaden the reach of its food business, M&S said it is forming a new food development unit.
"When we updated the market on 11 October 2005, we said that the trading environment remained very difficult. This view has not changed," the company said.
Companies: Marks and Spencer
Milk sales are up - and although some people have put it down to increased consumption of porridge, tea and coffee, the milk industry is keen to capitalise on its newfound popularity. One way it is do...
We produce far too much non-biodegradable packaging waste, say the environmentalists. We're short of landfill sites and it's damaging the environment. Yet, one potential solution, biodegradable or com...
These days, to be successful, supermarkets must provide value and quality, low prices and convenience, as well as reliability, consistency and responsibility. Aiming for such high standards means a ch...
UK food and clothing retailer Marks and Spencer can claim back GBP30m (US$53m) in tax from the British government following a European Court of Justice ruling today (Tuesday)....
UK food and clothing retailer Marks and Spencer has said it expects group profit before tax and exceptionals for the 26 weeks to 1 October to be at or around the upper end of market expectations....
UK food and clothing retailer Marks and Spencer has hired a New York business guru to motivate its entire staff of 56,000 in a bid to boost the company's sales....
Food and clothing retailer Marks and Spencer has announced Marks and Spencer Group plc has today (Monday) announced the resignation of Charles Wilson, executive director for IT, logistics and property...
Food and clothing retailer Marks and Spencer has announced a 3.1% fall in its UK retail sales in its first quarter, the 14 weeks to 9 July 2005, but food sales were up by 5.0%....
- Focus: Nestle CEO plan to balance sales, earnings
- Does Kraft Heinz want to swallow Unilever whole?
- Will Kellogg's DSD exit help it grow in US snacks?
- Comment: Meal kits in US - don't believe the hype
- Is Mondelez's margin target hurting sales?
- Nestle plans restructuring as 2016 profit misses
- Danone eyes efficiency, agility with new structure
- Kraft Heinz pursuing Unilever in takeover move
- Kraft Heinz returns to organic growth, ups margins
- Danone sales dampened by Europe, China