Marks and Spencer 2013 Annual Report Download - page 22

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Strategic review
Focus on the UK
Marks and Spencer Group plc Annual report and financial statements 2013 20
General merchandise continued
Home
Despite the static housing market
furniture sales rose 2%, driven partly by
improved quality and faster delivery
times on a number of key lines.
In August we launched our new in-store
Home concept, which transformed the
way we showcase our products. It also
embraces technology to offer greater
choice and make it easier to shop our
ranges. The new concept is now in 33
stores and they are performing well, 10%
ahead of non-concept stores.
Lingerie & Beauty
We continue to lead the UK market in
lingerie. Our customers shop with us
for everyday essentials, underwear
solutions and special occasion glamour.
Working in partnership with our world
class suppliers we introduced compelling
value, quality and style for
all customers. We saw strong sales of
our twopack Limited Collection bras at
£16 and our French-designed, vintage-
inspired Autograph lace collection at
£22.50. Innovation remains a key feature
of M&S Lingerie. Successes include the
extension of our Heatgen™ Thermal
range, up 33% and our Perfect Fit Bra,
up 72%.
The merchandising teams focused
on improving availability and reducing
lead times, enabling us to improve
performance in areas such as sports
bras, up 19% and dressing gowns,
up 12%.
Menswear
We remain the UK’s number one
menswear retailer and saw strong sales
in heritage departments such as coats
and outerwear, up 14% and nightwear
up 3%. Customers enjoyed our
interpretation of the British heritage trend
and formal jacket sales rose 6%.
Improved style helped us strengthen our
position in growth areas, with footwear
and accessories sales up 2%. M&S is
renowned for its tailoring and we have a
suit for every age and budget – from our
great value £99 suit to our Savile Row
Inspired range.
Kidswear
Parents turn to M&S for great value
kidswear they can trust. We experienced
our best ever year in schoolwear, selling
8.4 million items, up 8% on last year.
Independent tests rated our schoolwear
as the best quality on the high street.
With family celebrations a priority for
customers, we offered great value on our
occasion wear. Our Spring 20% off
promotion proved popular ahead of the
wedding season, with sales of boys’ suits
and girls’ bridesmaid dresses up 33%.
Autumn/Winter Collection
We are refocusing our clothing strategy
on the values that made the M&S brand
famous – putting quality and style back
at the heart of everything we do. Over
the last six months we have undertaken
extensive research; listening carefully to
our customers’ views and building on
our heritage to help us rediscover the
fashion DNA that makes M&S special
and relevant.
With an initial focus on womenswear,
our new clothing strategy encompasses
the following:
– an investment in quality that includes
upgrading to more premium fabrics,
using product innovation to deliver a
better fit and finish, whilst maintaining
prices for customers;
– clearer and more compelling
sub brands, with the launch of M&S
Collection;
– confident edits of the key trends for
each season, that see M&S lead the
way;
– improved fashion and design
credentials, including a new Best of
British range.
Ultimately, we want to deliver beautifully
made aspirational clothes that inspire
our customers. They will begin to see
these improvements from late July,
when our new Autumn/Winter
collection launches in store and online.
Complementing the quality wardrobe
staples will be an edit of the key trends,
each designed to work for the M&S
customer in a considered and wearable
way. To share the progress we have
made, we have included an exclusive
shareholder preview of the collection
with this report.
STYLE
We are reasserting our commitment
to delivering the M&S difference on
every product. We want our clothing
to inspire customers to look and feel
their best, exceeding their
expectations around fabric, fit and
finish. With a new team in place, we
are reinvigorating our style
credentials and will deliver confident
edited collections of the seasons’ key
styles, along with the quality
wardrobe staples we’re famous for.
Looking ahead