M&S's mission: St Michael looks for victory in Europe
Marks & Spencer, due to update the market on Wednesday, will be targeting international expansion for its future growth in the face of deteriorating trading conditions in Britain.
Consensus forecasts predict M&S will report a 6.2 per cent slump in like-for-like sales of clothing for the 13 weeks to 2 April. In contrast, food sales have risen 1.3 per cent. Its underlying sales in the UK are forecast to fall by 2.5 per cent in the quarter. The retailer has confirmed plans for a store in Paris. It is aiming for sales from its international operations, excluding Ireland, of between £800m and £1bn over the next four years. Currently, its international sales are just over £500m.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies