UK grocery and apparel retailer Marks & Spencer has announced FY2018 results for the 52-week period ended on 29 March 2019.

Q4 Performance

  • Total group sales declined 1.6%.
  • UK sales declined 1.9%. Like-for-like sales fell 1.4%. UK Clothing & Home online sales were up 4.9%.
  • Clothing & Home sales declined 3.9%.LFL down 1.3%.
  • Food sales decreased 0.8%. Like-for-like sales down 1.5%.
  • International sales up 1.8%.
  • Online sales up 0.2%.

FY 2018 Performance

  • Total group sales decreased 3% to GBP10.37 billion compared to GBP10.69 billion in 2017.
  • UK sales decreased 1.8% to GBP9.4 billion versus GBP9.6 billion for 2017. LFL down 2%. UK Clothing & Home online revenue grew 9.8%.
  • Food sales decreased 0.6% to GBP5.90 billion against GBP5.94 billion in 2017. LFL down 2.3%.
  • Clothing & Home sales decreased 3.6% to GBP3.53 billion compared to GBP3.67 billion in 2016. LFL down 1.6%.
  • M&S.com sales increased 5%.
  • International sales fell 13.4% to GBP936.6 million compared to GBP1.1 billion in 2017.
  • Capital expenditure stood at GBP234.9 million versus GBP295.7 million in 2017.

Outlook 2019-20

  • In Clothing & Home, the retailer expects net store closures to reduce sales by approximately 3%.
  • In its Food business M&S expects net store closures to reduce sales by approximately 1%.
  • Capital expenditure is expected to be in the range of GBP350 million to GBP400 million.

Source: Marks & Spencer