Thursday, 5th November 2009
Makeover for Marks and Spencer as profits stay flat
Marks and Spencer will begin to sell grocery and household products featuring top brand names across all of its stores in Britain alongside its own-labelled goods, the retailer said yesterday.
Alongside news of flat first-half profits, Marks said it would break with tradition and start selling products such as Coca-Cola fizzy drinks, Kelloggs cereals and Persil washing powder in a bid to improve sales.
"Marks & Spencer announces today that it is to sell a selected range of around 400 branded grocery and household products in all of its UK stores," the company said in a statement.
Company chairman Stuart Rose said the change would make it "so much more for convenient" for customers to purchase their goods in just one shop.
The announcement comes as M&S said net profits rose just half a per cent to £224.3 million (€251 million) during the first six months of its financial year.
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