M&S sees its slice of womenswear slip
MARKS & Spencer’s share of the womenswear market has shrunk since the beginning of the year and the group is set to report a fresh dip in profits in its results next week.
But analysts at Deutsche Bank say some green shoots may be visible among the figures as the company is managing to cut back its dependence on discounting.
The latest statistics from market research firm Kantar Worldpanel show M&S’s share of the market slipped 0.3 percentage points to 11.5 per cent in the three months to April.
Market share across its clothing unit fell just 0.1 percentage points to 9.6 per cent of the market after men’s and children’s clothing outperformed.
However, Deutsche Bank analyst Charlie Muir-Sands said the number of womenswear products sold at full price rather than a discount had increased in recent weeks.
Making more sales at full prices has been cited by chief executive Steve Rowe as one of the keys to the company’s recovery.
The group recently appointed Jill McDonald, previously boss of bike retailer Halfords, to be managing director of its clothing business.