Marks & Spencer posted a 7.8 per cent cent rise in annual sales across its Irish and British operations, although revenues only rose by one percentage point in the 11 weeks to the end of March.
The late arrival of Easter this year pushed first-quarter revenues down two percentage points, the company said in a trading statement issued yesterday. But it declined to provide a breakdown of the performance of its four Irish stores.
The company will be disappointed with the slack performance of its clothing line in particular, which increased turnover by 10 per cent year-on-year but actually fell by one-tenth of a percentage point since the January.
Marks & Spencer introduced an expensive promotion campaign, featuring soccer star David Beckham, last year and expected clothes sales to rise in the most recent quarter.
The group has moved into convenience retailing in Britain and plans to open a number of late-night stores in the Republic, beginning with one in Dún Laoghaire, Co Dublin, in early summer.
