In the UK, the retailer’s revenue rose by 4% from £8.4bn to £8.7bn,
helping grow its overall share of the clothing market by 11.7%. .
Marks & Spencer’s international revenue hit £1bn, up 6.1% in the
2010 financial year, accounting for 10.3% of total group revenue.
During 2010, the retailer opened 49 stores globally, so that it now
operates from 361 stores in 42 countries. .
Last year Marks & Spencer opened 12 new stores across the Czech
Republic, Poland and Estonia, four in India and three in Shanghai. The
company was, however, forced to close two stores in Greece. .
With growth in all sectors, dresses performed particularly strongly.
According to Marks & Spencer, its customers’ desire to ‘trade up’
was reflected in stronger sales of premium products, such as cashmere
knitwear. The Nearly Naked lingerie range represented over 25% of new
product lingerie sales. .
Despite being hit by the rising cost of cotton, the company’s operating
profit rose 5.9% from £779.3m to £824.9m for the 2010 financial year. .
“Marks & Spencer had a good year with sales and profits ahead of
last year,” said Marc Bolland, the company’s chief executive. “In
November we set out our plan to grow M&S into a truly international,