M&S insists that clothing sales are up
M&S have been in the wars of late, reporting wishy washy figures and falling sales over 11 consecutive quarters. Are other stores just doing it all better – or cheaper?
Whatever is wrong, they’ve reported that like for like sales fell by 0.6% in general merchandise over the last quarter, blaming heavy discounting over the last six months.
BUT, they’re also keen to point out that there’s a silver lining. Despite nobody knowing who those people are on the adverts, apart from that woman who may or may not be Annie Lennox, and a heavily airbrushed Emma Thompson who looks a bit like a bloke, M&S clothing sales are up by 0.6%.
M&S don’t normally separate their clothing figures from their general merchandise, so you could deduce that they’re desperately clutching at straws.
Still, they have to find a way to justify their million pound ad campaign and design overhaul somehow.
But there are other positives, too. Even though the British public seems to have gone cold on Marks and Spencer, internationally their rep is glowing, with overseas sales up 4.7%. And online sales aren’t too shoddy either – rising by a very healthy and un-Twiggy like 12%.
CEO Marc Bolland, waving his hands about and yelling ‘look over here!’ said that womenswear was showing ‘clear signs of improvement.’
Still, whatever you do, don’t mention the word ‘Next.’