M&S posts modest Christmas lift

LONDON - Marks & Spencer is the latest high street retailer to defy the downturn and post a year-on-year sales lift for the three months to Christmas, albeit just 0.8%.

Marks and Spencer: reports modest lift
Marks and Spencer: reports modest lift

The retailer reported the rise in like-for-like sales today for the three months to Boxing Day, which exclude the impact of new store openings. Growth was led by its General Merchandise category, up 1.2%, while food sales increased just 0.4%.

Sir Stuart Rose, chairman of M&S, said that although sales increases were larger in the General Merchandise category, the retailer had set a new record in its Food category.

Rose said: "In Food, we had our biggest ever Christmas fortnight, with record one day sales of over £50m on 23 December."

The chairman said he expected trading conditions over the coming year to remain challenging as a result of continuing economic uncertainty.

M&S's biggest growth area was generated by its online business, where sales were up 32% year on year.

Its consumer website was relaunched in October, adding new products, new services and also international delivery.

It also improved usability which resulted in the site topping the Webcredible poll of the best online high street retailers in the UK.

M&S's modest sales rise follows rival food retailer, Waitrose, announcing yesterday its sales were up 16.1% in the 13 weeks to 26 December.

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