M&S has reported 8.1% rise in like-for-like sales during Xmas. The department store and food retailer saw UK sales surge to £3.6bn in the 13 weeks to 30 December, driven by market-leading growth in food and a strong performance in womenswear.
Clothing and home sales rose 4.8% to £1.2bn during the golden quarter, also up 4.8% on a like-for-like basis, boosted by a 10.9% increase in online revenue and 2% lift in store sales.
The retailer attributed the growth to “a strong performance of womenswear” and a rise in average selling price, partly as a result of 6% reduction of stock going into sale.
The company is determined to deliver 1% growth in market share in both businesses and to up the pace of its transformation: keeping a relentless focus on trusted value; accelerating store rotation and renewal plans; doubling down on its supply chain programmes to improve availability and lower costs; and resetting its data, digital and technology strategy to unlock benefits in future years.
