Marks & Spencer (LSE: MKS) 3Q19 Update: A Weak Quarter for Food and Clothing Alike


Key Points

  • Marks & Spencer (M&S) reported another weak quarter, with comparable sales down 2.4% in Clothing and Home and down 2.1% in Food.
  • Management attributed the declines in Clothing and Home partly to lower footfall. Planned reductions in inventory levels resulted in a 25% reduction in the volume of stock going into the December sale.
  • Management attributed the decline in Food to price investment and a transition to from promotions to lower prices. Nevertheless, comp growth in Food was still ahead of analyst expectations.

3Q19 Trading Update Food, clothing and homewares retailer M&S reported another quarter of declining comparable sales in 3Q19 (ended December 30). The

To gain full access, and learn more about Coresight Membership Tiers, please click here.