Marks and Spencer has issued its Q2 Trading Statement, reporting Group sales up 2.7% and overall reported better than expected sales figures but even so the Marks and Spencer share price has fallen today.

The increase in sales was significantly helped by online Marks and Spencer sales, up 30%.

Sire Stuart Rose, Chairman, said ‘We are pleased to report continuing improvement in our performance. This demonstrates that the actions we are taking are working.

Whilst there is more visibility in the marketplace and consumers appear more confident, we continue to be cautious about the outlook. We expect 2010 to be a tough year and we will continue to run the business accordingly.’

Whilst M&S shares have been rising over the last quarter, despite this positive news today, at the time of writing the Marks and Spencer share price has today fallen over 2% to around 366p.

With Christmas approaching, M&S is gearing itself up for increased trading and has announced it is recruiting an extra 20,000 staff to cope with the expected increase in demand. ©MoneyHighStreet.com Personal Finance