M&S says merchandise sales dip but margin story intact
London
BRITISH retailer Marks & Spencer (M&S) reported a dip in first-quarter underlying sales in its clothing, footwear and homewares business on Tuesday, a minor setback for the group after a return to growth in the previous three months.
The 131-year-old firm did, however, maintain its guidance for the 2015-16 year, including a rise in the general merchandise gross margin of 1.5 to 2 percentage points. Chief executive Marc Bolland has stressed that his strategy is to primarily focus on profit margins rather than driving sales growth as he seeks to turn arou…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
China knockoff raid jolts a global throng of fake-fashion influencers
Apparel company Express seeks quick bankruptcy sale
Mattel posts narrower loss, thanks to Hot Wheels growth and lower costs
Starbucks set for talks with unionised US stores
Gucci-owner Kering posts 10% drop in Q1 sales on sluggish Chinese demand
China bubble-tea chain Chabaidao plunges on Hong Kong debut