M&S beats expectations

Marks & Spencer has outperformed expectations and reported a 5% sales rise in the final trading update before Sir Stuart Rose hands over to new CEO Marc Bolland.

M&S saw a 4.8% like-for-like sales increase in the three months to 13 weeks to 27 March, boosted by promotions over the Christmas period and strong demand for footwear and formalwear.

Food sales were up 1.8% while general merchandise was up 9.1 during the period.

M&S Direct, the online arm of the business saw a 48% sales increase during the quarter boosted by the expansion of “Shop Your Way”, M&S’s multi-channel ordering service.

Sir Stuart expects full-year pre-tax profit to be in the range of £620m to £630m and says staff at the retail chain will share an £80m bonus pot.

Sir Stuart says: “These are strong quarterly results by any measure. They demonstrate the appeal of the M&S brand to our 21 million weekly customers and its resilience in these difficult times.”

He adds that he expects the next year to remain challenging but hopes that after the election there will be “greater clarity on economic policy” which will bring improved consumer confidence.

Sir Stuart will stand down from his role as CEO and become non-executive chairman on July 31. He will leave the retail chain in March 2011.

Bolland, former chief executive of the Morrisons supermarket chain, will take over as CEO of M&S on May 1.

M&S revealed a new marketing strategy and new advertising strapline two weeks ago. Dannii Minogue will star among others alongside Twiggy in the chain’s advertising.

Latest from Marketing Week


Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now


Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.


From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.


Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3703 or email customerservices@marketingweek.com

If you are looking for our Jobs site, please click here