Marks sparks up the sales
The Marks & Spencer (M&S) revival is continuing after it reported “strong” sales growth in the first three months of the year. Like-for-like sales grew 6.8% during the period and profits for 2005/6 are expected to be ahead of expectations in the £745m to £755m range.
M&S chief executive Stuart Rose said the trading environment was still tough. “We are pleased with the progress we are making but there is still a lot to do,” he said. “We do not expect conditions for the retail sector to improve significantly until next year.”
Retail analyst Debbie Harrison said: “These are good numbers from M&S and confirm the extent of the improvement under Stuart Rose. I bet Philip Green wishes he’d been able to acquire the store now.”