THE RETAIL BULLETIN - The home of retail news
Click here
Home Page
News Categories
Commentary
Department Stores
Electricals and Tech
Entertainment
Fashion
Food and Drink
General Merchandise
Grocery
Health and Beauty
Home and DIY
Interviews
People Matter
Retail Business Strategy
Property
Retail Solutions
Electricals & Technology
Sports and Leisure
Christmas Ads
Shopping Centres, High Streets & Retail Parks
Retail Events
People in Retail Awards 2024
Retail HR Central 2024
The Future of The High Street 2024
Retail HR Summit
THE Retail Conference
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Marks & Spencer confident of outlook after buoyant Christmas trading

Marks & Spencer has reiterated its profit outlook after a strong Christmas trading period in which its food business performed particularly well. In the 13 weeks… View Article

GENERAL MERCHANDISE NEWS

Marks & Spencer confident of outlook after buoyant Christmas trading

Marks & Spencer has reiterated its profit outlook after a strong Christmas trading period in which its food business performed particularly well.

In the 13 weeks to 1 January, UK sales climbed  by 18.6% year-on-year after food sales increased by 12.4% on pre-pandemic levels two years ago. Clothing and home sales also strengthened to record a rise of 3.2% on a two-year basis.

Steve Rowe, M&S chief executive,  said:  Trading over the Christmas period has been strong, demonstrating the continued improvements we’ve made to product and value. Clothing and home has delivered growth for the second successive quarter, supported by robust online and full price sales growth.

“Food has maintained its momentum, outperforming the market over both 12 and 24 months. The market continues to be impacted by the headwinds and tailwinds that we reported in the first half, but I remain encouraged that our transformation plan is now driving improved performance .”

The retailer has now reiterated its full year outlook and expects pre-tax profit to be at at least £500 million if there are no further material Covid-19 restrictions or lockdowns.

 

Subscribe For Retail News