9th Jan 2008 07:00
Marks & Spencer Group PLC09 January 2008 MARKS AND SPENCER GROUP PLC QUARTER 3 2007/08 - INTERIM MANAGEMENT STATEMENT 13 weeks to 29 December 2007 • Group sales up 2.8%• UK sales up 2.0%: General Merchandise -0.7%1; Food +5.1%• UK like for like sales -2.2%: General Merchandise -3.2%; Food -1.5%• International sales up 15.1% Sir Stuart Rose, Chief Executive said: "Market conditions became more challenging through November and December. Wecontinued to drive footfall, and volume growth in General Merchandise was strongat 5%. Price deflation was 6%, reflecting our continued focus on offeringcustomers better values. We held market share in General Merchandise at 10.6%2and in Food at 4.3%3. "We did not discount in the run up to Christmas. Stock levels were wellcontrolled over the period. We had a strong start to the Christmas Sale and salestocks have now cleared. "Direct was strong, with sales from our website up 78%, reflecting furthergrowth in customer numbers, transactions and conversion. International alsoperformed well with sales up 15.1% over the period. "We expect trading conditions to remain tough throughout 2008. We are wellpositioned with a strong product offer and better than ever values across ourbusiness. We now have 70% of our stores in the modernised format and a strongpipeline of new space for 2008 and beyond. Direct and International continue tomake good progress." Since 6 November we have repurchased 1.18% of our shares in issue at a cost of£124.8m. Marks and Spencer Group plc will report its 2007/08 Preliminary results and Q4trading for the 13 weeks to 29 March 2008 on 20 May 2008. 1 Clothing -1.2%; Home +3.2% 2 Clothing market share: TNS Worldpanel Fashion: 12 weeks ending 11 Nov 2007 3 Food market share: Superpanel, Food & drink: 12 weeks ending 2 Dec 2007 Statements made in this announcement that look forward in time or that expressmanagement's beliefs, expectations or estimates regarding future occurrences andprospects are "forward-looking statements" within the meaning of the UnitedStates federal securities laws. These forward-looking statements reflect Marks &Spencer's current expectations concerning future events and actual results maydiffer materially from current expectations or historical results. Any suchforward-looking statements are subject to various risks and uncertainties,including failure by Marks & Spencer to predict accurately customer preferences;decline in the demand for products offered by Marks & Spencer; competitiveinfluences; changes in levels of store traffic or consumer spending habits;effectiveness of Marks & Spencer's brand awareness and marketing programmes;general economic conditions or a downturn in the retail or financial servicesindustries; acts of war or terrorism worldwide; work stoppages, slowdowns orstrikes; and changes in financial and equity markets. Contacts: Investor Relations:Amanda Mellor +44 (0)20 8718 3604Majda Rainer +44 (0)20 8718 1563Corporate Press Office: +44 (0)20 8718 1919 Investors & Analysts Conference Call: This will be hosted by Stuart Rose at 08.30 (GMT) on Wednesday 9 January 2008:Dial in number: +44 (0)20 7190 1530 A recording of this call will be available until Wednesday 16 January 2008:Dial in number: +44 (0)20 7190 5901 Access Code: 137930 Fixed Income Investor Conference Call: This will be hosted by Ian Dyson at 14.00 (GMT) on Thursday 10 January 2008:Dial in number: +44 (0)20 7190 1596 A recording of this call will be available until Thursday 17 January 2008:Dial in number: +44 (0)20 7190 5901 Access Code: 137958 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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