M&S may post sales growth for the first time in 2 years
Marks & Spencer is expected to report growth in sales for the first time in over two years owing to strong footfall during Christmas season when it posts its results on Wednesday.
M&S is expected to post one per cent increase in like-for-like sales from last year, when sales slipped by more than 7 per cent in wake of recession.
This sharp fall eased to 0.5 per cent for the July to September quarter while company’s CEO Sir Stuart Rose gave optimistic comments regarding trading conditions.
Commenting on the issue, Clive Black from broker Shore Capital said, “It should be a steady Christmas for Marks.”
However, group’s food division is expected to report the weakest sales performance because of cut-throat competition from rivals Waitrose.
Separately, Sainsbury's will also post its results for the third quarter on Thursday, revealing how Christmas sales during 2009 were different from previous year.
New Zealand News
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