27 May 2024, 02:10
By Furniture News Nov 05, 2014

Home sales down despite profit growth at M&S

Marks & Spencer (M&S) has published its financial results for the half year ending 27th September 2014, highlighting growing margin and profit over the period.

Group sales rose by 1% to £4.9b. First-half sales were down 6.3%, partly impacted by unseasonal conditions in September, yet the retailer says it is on track for growth ahead of the peak trading period.

Marc Bolland, chief executive, comments: “M&S delivered sales growth and increased profit in the first half despite a tough market, particularly in September. We are pleased with the progress we have made against our key priorities for the year – GM gross margin, improving Womenswear, driving Food growth and cash generation.”

Home sales were down in the first half as a result of the decline in the performance of M&S.com, the online channel accounting for over a third of Home revenue.

© 2013 - 2024 Gearing Media Group Ltd. All Rights Reserved.