Marks & Spencer (M&S) has published its financial results for the half year ending 27th September 2014, highlighting growing margin and profit over the period.
Group sales rose by 1% to £4.9b. First-half sales were down 6.3%, partly impacted by unseasonal conditions in September, yet the retailer says it is on track for growth ahead of the peak trading period.
Marc Bolland, chief executive, comments: “M&S delivered sales growth and increased profit in the first half despite a tough market, particularly in September. We are pleased with the progress we have made against our key priorities for the year – GM gross margin, improving Womenswear, driving Food growth and cash generation.”
Home sales were down in the first half as a result of the decline in the performance of M&S.com, the online channel accounting for over a third of Home revenue.
