UK retailer Marks and Spencer reported an improvement in second-quarter sales today (30 September), but said it expects 2010 to be a “tough year”.
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For the 13-week period to 26 September, group revenue grew 2.7%, driven by online sales, which were up by almost a third. International sales remained buoyant, climbing 9.6%.
Like-for-like sales in the UK, however, which take out the impact of sales from new stores, fell 0.5% for the three-month period.
Chairman Sir Stuart Rose said: “We are pleased to report continuing improvement in our performance. This demonstrates that the actions we are taking are working.
“Whilst there is more visibility in the marketplace and consumers appear more confident, we continue to be cautious about the outlook. We expect 2010 to be a tough year and we will continue to run the business accordingly.
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By GlobalDataThe retailer said it is employing an additional 20,000 staff for the Christmas period.
Marks and Spencer will report its half-year results on 4 November.
Check back later for more comment from Marks and Spencer after the company’s conference call with analysts. Click here for the full release.
