Marks & Spencer saw pretax profit plunge almost 16 percent from £780.6 million last year, to £658.0 million in the year ended 31st March. Despite the decline, chief executive Marc Bolland said the business performed well in a challenging economic climate, “growing group sales by 2 percent and holding market share”. He added, “We are well on track to become a truly international multichannel retailer” and said that by the end of the current fiscal year, Marks & Spencer will be trading from 10 websites worldwide and opening around 100 international stores per year. Multichannel was also a bright spot, with direct sales up 18 percent to £559 million. On average, M&S receive 3.4 million weekly visitors, 11 percent up on last year, while its mobile site experienced a 300 percent growth in visits on last year.
Consumer exhibition the Ideal Home Show has made its first foray into ecommerce with the launch of its new website. The Ideal Home Show Online Shop showcases more than 1,000 carefully selected products including indoor and outdoor furniture, homewares, garden gadgets and tools, and gifts.
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