Marks & Spencer delivered a “record” Christmas performance, driven by strong sales in food, and a recovering fashion, home and beauty division.
The high street retailer reported that for the 13 weeks ending 27 December, food sales rose 6.6% over the period, with like-for-like growth of 5.6%, pushing market share to a record high in November, above the 4% milestone.
However, fashion, home and beauty fared less well, dipping 2.5% year on year, in line with expectations. Despite this, performance improved significantly, compared with the first half, said CEO Stuart Machin, adding that the “division was getting back on track as we work through the tail end of recovery”.
Online sales grew, and Christmas ranges performed well – with women’s partywear up 5% and menswear recording its best-ever Christmas Eve – while international sales were up 0.9%.
Meanwhile, elsewhere Ocado Retail sales increased 13.7%, driven by volume growth of 10.7% and order growth of 11%. M&S said sales on Ocado.com increased by 16.3% and accounted for 30% of total Ocado Retail sales.
“We enter this new calendar year full of ambition and laser focused on our plan to reshape M&S for further growth,” Machin added.
“In Food, we have even more first to market innovation coming and further investment in quality and price.
“And in Fashion, our new season ranges are resonating well with customers as we double down on value, quality and style.”
Looking ahead, M&S said its full-year outlook remains unchanged with the group pointing to plans to accelerate transformation across supply chain, stores and digital.
This summer is set to see the opening of a new Food distribution centre in Bristol, 11 new or renewed stores by year end, and the spring relaunch of its Sparks loyalty programme with improved personalisation and app functionality.
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