M&S quarterly sales rise but Rose maintains cautious outlook

In a trading statement today, M&S revealed its total UK sales grew 6.2% in the 13 weeks to 27 March 2010, due largely to strong sales in formal wear and knitwear.

The company also said its food business had experienced six consecutive quarters of improved performance. It recently launched its Simply Fuller Longer food range and will launch more than 1,500 new lines this year.

The company expects profit before tax for the 52 weeks ending 27 March 2010 to be in the range of £620m to £630m.

International sales in the quarter, however, fell by 5.9% and were particularly affected by poor trading in Ireland and Greece.

M&S chairman Stuart Rose said the company had “weathered” the worst of the recession, but was still cautious in its outlook.

“We hope that after the election there will be greater clarity on economic policy and how this will impact our customers individually,” he said.

“With this will come improving consumer confidence, which is so important for our business and the economy as a whole.”

The quarterly results include the first day of Christmas sales on 27 December that added around 1.3% to UK sales.

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