Online sales soar at M&S as consumer confidence stabilises

by Dan Leahul, revolutionmagazine.com 01-Jul-09, 15:05

LONDON - Marks and Spencer's has recorded gains of nearly 30% in online sales, according to its Q1 trading statement, which revealed the stark contrast to slowing in-store like for like UK sales, which fell 1.4%.

Total UK sales were up a percentage point, which actually marks an improvement seen over the last two quarters, largely attributed an increase in food and merchandise purchases made around the Easter holiday.

Sir Stuart Rose, M&S chairman, said consumer confidence appears to be stabilising, but the company remains cautious about the outlook for the remainder of this year and the next.

The trend seems to indicate shoppers are heading online to look for exclusive deals, with gains of 28% from the previous quarter. International sales also preformed well, increasing 15.9%.

Rose added: "We are pleased with the improving trend in our performance. This demonstrates that the actions we are taking are working. Customers have responded well to our initiatives particularly our 125th anniversary campaign, and recently voted us the UK's most trusted retail brand."