// Marks & Spencer hails a “strong” uplift in Christmas sales across all divisions at the retailer
// M&S said group sales were up 8.6% on pre-pandemic levels and 18.5% on 2021 levels at £3.27 billion.
Marks & Spencer has said it is “now more confident” of reaching at least £500m in profits for its full-year after a stellar Christmas performance.
Food was the star performer at the retailer, with sales jumping 12.4% against its pre-pandemic performance two years ago in the 13 weeks to 1 January. However, sales in clothing and home, which has long been a thorn in the side for the retailer, rose 3.2% on the same basis.
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Group sales were up 8.6% on pre-pandemic levels and 18.5% on 2021 levels at £3.27 billion.
Chief executive Steve Rowe said: “Trading over the Christmas period has been strong, demonstrating the continued improvements we’ve made to product and value.
“Clothing & 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.”
Shares in the retailer are up over 80% in the last 12 months and likely to rise further again this morning.