Marks & Spencer still on cautious notes
Despite the growing and increasing sales for Marks & Spencer the renowned retailer, that has been entailed by the celebrity endorsements from the moves of the England football team and the ex-player Jamie Redknapp along with the World Cup, the newly joined boss Marc Bolland, expressed that the latest budget has crafted the company to mark on the cautious notes related to the outlook for consumer confidence and expenditures.
Supervising over the first array of figures from being tempted away from the supermarket Wm Morrison, Bolland declared the M&S's third successive quarterly incline in the sales. The growth rate in the 13 weeks to 3 July was somewhat sluggish as compared with the previous quarters.
Bolland admitted that he does not anticipate the feel of getting entangled into the double-dip recession; however M&S are keeping themselves alert on the consumer poise by chalking out exhaustive customer surveys every month.
During the 13 weeks to 3 July the first quarter of M&S's overall group sales inclined by 4.4%. Prohibiting the newly opened stores, the likely sales in the UK slanted high by a 3.6% rise in the figures, which is a slightly better than expected result which was enhanced by the sturdy sales of clothing. However the previous quarter entails the sales figure which was up by 5.1%.