IT'S MARMITE AND SPENCER; Store giants to sell other brands.Byline: Graeme Evans MARKS and Spencer have revealed plans to sell about 400 branded products from firms such as Marmite mar·mite n. 1. a. A large covered earthenware or metal cooking pot. b. A small covered earthenware casserole designed to hold an individual serving. 2. A petite marmite. , Kellogg's and Coca-Cola. The chain are rolling out the sale of well-known household goods and groceries gro·cer·y n. pl. gro·cer·ies 1. A store selling foodstuffs and various household supplies. 2. groceries Commodities sold by a grocer. across their UK store network after a successful trial in England. M&S said they could "simply never compete" with certain popular brands and were introducing them to their shops for customers' convenience. None of the store giants' own products is to be dropped as a result of the move, which will focus on lines where the retailers have a lower share of the market, such as soft drinks, beer, laundry and confectionery confectionery, delicacies or sweetmeats that have sugar as a principal ingredient, combined with coloring matter and flavoring and often with fruit or nuts. In the United States it is usually called candy, in Great Britain, sweets or boiled sweets. . The move came as the chain yesterday announced profits of pounds 298.3million for the six months to September 26, ahead of City forecasts and stronger than a year earlier. M&S boss Sir Stuart Rose Stuart Rose (born March 17, 1949) is the Chief Executive of the British retailer Marks & Spencer. Background Stuart Rose’s grandparents were White Russian émigrés who fled to China after the 1917 revolution. said: "We are pleased with our half-year performance. We increased our share of the clothing market and our performance in food has also improved." He said the third quarter of the year had got off to a good start, too. Yesterday's figures reveal that M&S increased sales by 2.8 per cent to pounds 4.3billion in the half-year period, helped by 12 per cent growth overseas. Margins UK revenues were 1.8 per cent higher but down 0.9 per cent when changes in store space are excluded. The firm said tight management of costs and operating margins Operating Margin A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: helped them to beat last year's profits figure. The result represents a recovery from earlier in the year when they announced a 40 per cent drop in full-year profits to pounds 604.4 million and cut their annual dividend by 33 per cent - the first such move since 2000. M&S said general merchandise sales were up 1.7 per cent as they kept their position as the UK's leading clothing retailers by value and volume. Food sales were up 1.8 per cent as they had their fourth consecutive quarter of improved like-for-like sales Like-for-Like Sales The portion of current sales achieved through activities that are comparable to the activities of the previous year. Notes: Using like-for-like sales is a method of valuation that attempts to exclude any effects of expansion, acquisition, or other but market share slipped from 3.7 per cent to 3.5 per cent. Promotional offers have been key to driving footfall in their stores, with the retailer's "Dine in Verb 1. dine in - eat at home eat in eat - eat a meal; take a meal; "We did not eat until 10 P.M. because there were so many phone calls"; "I didn't eat yet, so I gladly accept your invitation" for two for pounds 10" offer selling 4.5 million meals in the half. Shares opened five per cent higher after the profits beat City forecasts. |
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