Marks & Spencer’s underwear range put in a solid performance in the first quarter, as clothing sales plummeted.
While the retailer was unable to provide a complete breakdown of overall lingerie sales for the period, it did divulge that 915,000 packs of basic T-shirt bras were sold in the three months to July 2, up 4.4% on last year.
A spokesperson also told Lingerie Insight that 1.8 million multi-packs of knickers were sold during that time, a rise of 8.5% on last year.
These positive findings came as M&S recorded an 8.9% drop in clothing and home sales in the first quarter, as the new CEO, Steve Rowe, cuts prices and slashes the number of promotions.
“A key part of our recovery plan for clothing and home is lowering prices and reducing promotions,” said Rowe.
“As a result, we ran fewer price promotions while continuing to lower prices to deliver real value to our customers, and moved the summer sale to July. We knew our actions would reduce total sales but we are seeing some encouraging early signs.”
Marks & Spencer said consumer confidence weakened in the run up to the June 23 European Union referendum in the UK.
But it said it was too early to quantify the implications of Brexit.