M&S posts ‘improved’ Christmas performance despite clothing decline
Marks & Spencer’s Christmas like-for-like sales edged up but total sales dipped despite its grocery arm “outperforming” the market.
The department store retailer’s UK revenue fell 0.6% to £2.8bn year-on-year in the 13 weeks to December 28, despite like-for-like sales edging up 0.2% during the period.
Food sales rose 1.5% on a total basis to £1.7bn during the period, up 1.4% in like-for-like terms, driven by “a standout performance in the two-week Christmas period as customers responded to sharper value and more relevant innovation”.
But this improved performance was offset by Marks & Spencer’s clothing and home arm, which posted a 3.7% slide in sales to £1.1bn, down 1.7% on a like-for-like basis.
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