Irish sales increase for M&S

MARKS and Spencer outlets in Ireland are performing better than their British counterparts, with Limerick now a prime target for further investment.

At its AGM yesterday the retail chain announced overall sales were up by 10.4%, with food sales increasing by 9.2% and general merchandise rising 11.7%.

Like-for-like sales — which strips out the impact of new stores — were up 8.2% on last year in the 13 weeks to July 1.

In the last two years, Marks and Spencer have increased their number of stores in the Republic from four to 13. The most recent additions have been in Drogheda and Newbridge, and a new store will open in Tallaght in December.

Marks and Spencer Ireland chief executive Neil Hyslop said while he welcomed the encouraging growth, the company was still operating in a tough business environment — and the Irish market is an important component of the company’s overall expansion strategy.

Marks and Spencer has created 150 jobs here this year, and plans to increase this to 375 by end 2006.

Higher costs in fuel, rates and rent were all ongoing concerns, chief executive Stuart Rose said.