Company Earnings Update 3 minutesRegister for Free AccessMarks & Spencer (LSE: MKS) 3Q19 Update: A Weak Quarter for Food and Clothing Alike Coresight Research January 11, 2019 Executive Summary 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. Please Login to read the full report. Not a member? Register for a free user account. This document was generated for Other research you may be interested in: Innovator Profile: Frate Reduces the Impacts of Retail Returns on Profitability and the EnvironmentThe 50+ Woman: What Does She Want from the Beauty Industry?Market Outlook: US CPG—Growth Led by Price Hikes Amid Macroeconomic VolatilityEarnings Insights 2Q24, Week 5: Ross Stores, Target and TJX Among the Companies Reporting Sales Growth This Week
