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Strong online sales help Marks and Spencer recovery
Strong online sales at clothing and food retailer Marks and Spencer have helped the company's recovery.In the three months to December 30th, online sales grew sharply – by more than 70 per cent. The M&S website had more than nine million individual customers.
This helped revenue at the group to grow by 5.6 per cent over the period – the sixth year in a row that it has posted a rise. Total sales increased by 9.2 per cent.
M&S is also creating a new website together with online retailer Amazon, due to go live in the spring.
Charles Stanley retail analyst Sam Hart told Market Watch that it was clear the company had strong ambitions in the online sector.
Marks and Spencer is not the only retailer that has enjoyed booming online sales in recent weeks.
At clothing retailer Next, strong internet sales helped to counter a disappointing performance on the high street.
Corporate Internet news posted on 10 January 2007
