Marks and Spencers, M&S are not doing so well
Marks & Spencers saw its profits fall by 12 basis points to 10.66% in February according to reports.
M&S lost the greatest share in its core womenswear category, which fell by 21 basis points, according to The Daily Telegraph newspaper, which cited TNS FashionTrak data as its source.
M&S saw its menswear fall back by eight basis points over the month, while kidswear fell by one point.
According to the newspaper M&S’s total clothing share fell by 49 basis points over the 24 weeks to March 1.
Meanwhile, both Next and Debenhams gained shares over the six month period. Next saw share rise by 13 basis points while Debenhams was up 8 basis points.
The newspaper said New Look and House of Fraser had also performed well over the period.
The TNS FashionTrak date did show that M&S had decreased its number of discount promotions over the six month period.
An M&S spokesman said that M&S’ market share fluctuated on a monthly basis because of the current high levels of promotional activity on the high street and that the retailer measured its share on a 12 month basis to strip out seasonal blips.
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