M&S sees best quarter in years

British retailer Marks & Spencer posted its best quarterly non-food sales performance in four years, yesterday, putting behind it the online distribution problems that ruined its Christmas and buying its chief executive more time to secure a recovery.

Shares in Britain’s biggest clothing retailer rose as much as 6.3%, to a seven-year high after it said sales of general merchandise – spanning clothing, footwear and homewares – rose 0.7% in the past quarter at stores open more than a year.

CEO Marc Bolland highlighted “high single-digit” like-for-like sales growth at both its relatively upmarket Autograph and Limited clothing brands, and noted positive press reviews of a £199 (€270) suede skirt that will hit stores this month and is attracting high levels of pre-registration.