Marks and Spencer, the UK retailer, today (11 January) posted a 1.8% rise in food sales over Christmas, driven by new products and “more impactful” promotions.
For the 13 weeks to 1 January, M&S’s fiscal third quarter, the retailer booked a 1.8% rise in like-for-like food sales. M&S said its total food sales had risen 3.5%.
Go deeper with GlobalData
The retailer said it was “delighted” with its level of innovation in food during the quarter, when the company launched 600 products. M&S also pointed to “bigger, more impactful promotions” during the period and revealed that, on 23 December, it generated record one-day food sales of GBP50m.
“Marks & Spencer traded well through the important Christmas period despite the severe weather as customers continued to return to M&S quality,” chief executive Marc Bolland said.
The retailer’s total UK sales – across food and clothing – rose 4%. Its group sales, including from overseas, were also up 4%.
See Also:
Looking ahead, M&S echoed UK food retailer Morrisons and adopted a cautious tone when looking at the year ahead. M&S said trading conditions would become “more challenging” as VAT and public-spending cuts hit consumer spending.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
