M&S sees sales soar 10% over Christmas
The business also revealed its clothing and home sales increased 8.8%, with LFL sales up 8.6%, a performance “well ahead” of the market
M&S has revealed its food sales rose 10.2% in the three months until December 31, with like-for-like sales up 6.2%, as the grocer outperformed the market.
Alongside this, top tier M&S collection sales also grew by over 20%.
The business also revealed its clothing and home sales increased 8.8%, with LFL sales up 8.6%, a performance “well ahead” of the market. Clothing and home achieved over 10% market share in the period, its highest level since 2015.
As a result of the strong trading performance, the company said it is confident that the results for the year will be “consistent” with the guidance set out at the group’s interim results in November.
Stuart Machin, chief executive, said: “M&S sustained trading momentum through the peak quarter and both food and clothing and home have delivered strong growth. M&S Food outperformed the market on volume and value in the critical four-week Christmas period for the second year running and reached its highest ever recorded market share.
“Clothing and home delivered another outstanding performance, maintaining its market leadership position with its highest market share in seven years.”
He added: “This outperformance was driven by M&S doing what it does best; exceptional product at value you can trust. Thanks to our unrivalled quality, innovation and growing style credentials, more customers shopped with M&S over the Christmas period than in recent years. I would like to thank all our colleagues for the fantastic service they delivered.”
