M&S Should be Wary Of Resurgent Competition: Q1 Results

While M&S Food witnessed a 0.1% decline in LFL sales, the performance is an improvement over the 2.1% decline in Q4 2016. The improvement could be attributed to grocery price inflation (+3.2% for the 12-week period ended 18 June 2017), and weak sales growth the same time last year. This should come as good news for investors and the M&S management team considering the rather disappointing finish to FY 2016 with LFL sales declining 2.1% in Q4 2016 (period ending 1 April 2017).

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M&S Q1 Results 110717