Retailer sees trend beginning to improve in weak consumer environment, boosts dividend
reported reported its profits grew by 8.3 per cent in the third quarter, beating analyst expectations, even as a weak consumer environment led to continuing sales declines.
“We continue to control costs and manage margins carefully, in order to balance lingering consumer and economic headwinds,” Mr. Hicks said. Mark’s sales fell by 2.3 per cent. The stores saw growth in sales of men’s shorts and T-shirts, as well as children’s clothing – a new category at Mark’s. Those gains failed to make up for declines in sales of industrial wear.
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