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The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
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The Markets
by Proactive
Proactive UK has moved.
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The Markets
by Proactive
Proactive UK has moved.
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Retail

M&S revival continues as food business stars over the Christmas period

The revival at Marks and Spencer Group PLC continued apace over the key Christmas trading period, with the food operation providing a star turn.

Underlying sales from the grocery section were up 9.9% for the 13 weeks ended 30 December.

However, keen students of Marks will know the clothing operation, still the mainstay of the business, tends to be the swing factor. It weighed in with like-for-like top-line growth of 4.8%.

Combined, the two delivered a like-for-like increase of 8.1%. Adding in the international operations, that figure came down to 7.2%.

Looking ahead, M&S said results for the year will be "consistent with market expectations". However, it also said economic growth remained "uncertain" while rising costs pushed by higher wages and business rates remained a concern.

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