Marks & Spence's non-food turnover keeps dropping | RetailDetail

Marks & Spence's non-food turnover keeps dropping

Marks & Spence's non-food turnover keeps dropping

Marks & Spencer has experienced a twelfth consecutive turnover drop in its non-food branch. Luckily, it managed a turnover growth in its food branch, with a 2.3 % turnover growth in total.

New website impacts results

Total turnover for clothing grew 0.1 %, but the like-for-like turnover dropped 0.6 %, while CEO Marc Bolland believes the company can turn things around as its new website is currently impacting the results: "We have seen a continued improvement in Clothing, although as anticipated the settling in of the new M&S.com has had an impact on sales."

 

According to analysts, website sales are currently lower because of the fact that customers have to register again and have to get used to the site. CEO Bolland predicted this would take some 6 months and M&S.com's turnover has dropped 8.1 % in the first quarter.

 

The turnover in the UK grew 2.0 % (and a 0.3 % like-for-like turnover growth), while international turnover grew 4.7 %. Food sales grew 4.2 %, while its like-for-like turnover grew 1.7 %, mainly thanks to a late Easter this year. If that period is taken into account, turnover grew 2.6 % and like-for-like turnover only grew 0.1 %.

Questions or comments? Please feel free to contact the editors


Hema decapitates franchise organisation

10/08/2018

The Dutch Hema chain has ended the franchising agreement for 24 stores after a long lasting dispute about how much franchisers have to pay for online sales. 

Decathlon acquires Swiss competitor Athleticum

09/08/2018

French Decathlon has acquired Swiss sports store chain Athleticum from Maus Frères, who in return receive a minority stake in Decathlon Switzerland and an undisclosed fee.

Rakuten reorganises despite huge turnover growth

09/08/2018

Japanese Rakuten, the world’s fifth largest e-commerce company, has posted a 16.4 % turnover growth in the first six months of 2018, while its profit grew even faster (+60 %). Still, the company sees the need for an internal reorganisation to better deal with demanding circumstances.

Conversional commerce: tried, but failed

07/08/2018

Only 0.2 % of all Amazon Echo owners in the United States have actually bought something using their smart speakers. Is the technology worthless, or just not ready yet?

Walmart retreats from Brazil

02/08/2018

American retail giant Walmart sells most of its under-performing Brazilian branch to an investment group. The sale fits into a strategy to focus on growing markets.

Colruyt Group posts first sustainability report

01/08/2018

Belgian Colruyt Group had a first with its latest yearly report, as it added a separate sustainability report to its already rather elaborate yearly booklet. Which facts were especially noteworthy? RetailDetail found it all out.