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Marks & Spencer - Food sales gain offset clothing decline

May 2013

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • MKS
  • Price:
  • 390p
Whilst rumours of a possible bid approach from the Qatari Investment Authority abound, sending the shares to the top of their range M&S also delivered a trading update ahead of expectations. Group sales rose 3.1% but the surprise was the 4% increase in like-for-like food sales, which offset a decline of 3.8% in general merchandise as M&S maintained margins by using promotional activity only sparingly. The hope is that general merchandise will receive a boost from the spring / summer product range, while new management have started delivering operational improvements in availability and stock management. Final results are due on 21 May with consensus eps forecasts being 33.1p, rising to 36.35p for the current year. < ...

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