The quarterly sales report of Marks & Spencer shows growth which is the maximum in last two years as increased number of shoppers indulged in treating themselves to the special food in celebration of Easter holidays. Mark & Spenser is the largest UK retail store for clothing.
it is revealed that the UK stores revenue has opened at least by a rise of 0.6 percent in the end of March, making for 13 weeks continuously. This declaration was revealed by the UK retail store of Mark & Spenser which is based at London. The revenue for food got a high of 4 percent, making for a rise of 2.5 percent as per the estimation that was provided by the 13 analysts of Bloomberg survey. The sales of general merchandise dropped by 3.8 percent, especially when compared with the estimates of 4 percent decline as per speculation of analysts.
A new team has been created by chief executive officer of Mark & Spenser, Marc Bolland, in order to redecor and revamp the clothing collection and selection of the organization. it is stated that the CEO is under the expanding pressure of reviving general merchandise during his three years of tenure. it is also observed that Bolland has pledged to invest almost $1 billion pounds in the refurnishing of stores, products and other supplies associated with the trade.
In a statement given to reporters, Bolland said that their organization can do better than this. It is revealed that the company has bought in more products and items to respond towards the key trends. Bolland is also observed to place faith on the new UK management team which was further lead forward by food chief John Dixon and replaced by Kate Bostock who took over as the chief in the general merchandise section in the month of October. On the other hand, the former CEO of Debenhams Plc, namely Belinda Earl, has been robbed in as the style director of the organization.
The shares of Mark & Spenser is stated to have rose by 3.8 percent in the trading market of London, making for an advance of 4.3 percent in this year. The stock market has also moved forward in the month of March resulting to speculation that the Qatar Investment Authority will be considering a deal of 8 billion pounds in association with the M&S Company. In the words of Alan Steward who is the chief officer of finance, the shareholders of the company are extremely supportive and helpful with the strategies of the organization. It is also revealed by the company of Marks & Spenser that they are very cautious and careful about the outlook for this year with consumer pressure expected to stay on in the year of 2013.