LONDON (dpa-AFX) - Marks and Spencer Group plc (MAKSY.PK, MAKSF.PK, MKS.L), on Tuesday, reported like-for-like Food sales growth of over 11% for the 19-weeks period.
Like-for-like Clothing & Home sales grew over 6%, with strong growth in stores, and more subdued growth in online. Sell through rates have been robust and stock into sale was lower than planned.
Overall, the company noted that the group operating margin has continued to be robust, driven by strong store performance and enhanced by its store rotation and renewal programme.
Marks and Spencer now expects the outcome for the year to show profit growth on 2022-23, and the interim results to show a significant improvement against previous expectations.
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