LONDON (dpa-AFX) - Marks & Spencer Group Plc (MAKSY.PK, MAKSF.PK, MKS.L) reported Group revenue of 3.02 billion pounds for the 13 weeks TO 28 December 2019, down 0.7 percent from previous year. Total UK sales were 2.77 billion pounds, down 0.6 percent. UK like-for-like revenue was up 0.2 percent, driven by improved quarter in both main businesses.
Steve Rowe, Chief Executive, said: 'We delivered an improved performance in Q3 across both main businesses. The Food business continued to outperform the market and Clothing and Home had a strong start to the quarter, albeit this was followed by a challenging trading environment in the lead up to Christmas.'
The Group noted that Clothing & Home UK online revenue was up 1.5%, which was lower than expected. Revenue was adversely impacted by competitor discounting in December and lower furniture dispatches at the start of the quarter.
The Group's full year guidance remains unchanged, although gross margins are expected to be around lower end of guidance, largely offset by cost reduction programme. Marks & Spencer will report full year results on 20 May 2020.
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