Marks & Spencer Shines in Christmas Sales

Marks & Spencer outperformed expectations with an 8.9% increase in food sales and 1.9% rise in clothing, home, and beauty sales during the Christmas period. As the leading grocery retailer, it continues growth momentum despite economic challenges. Shares have surged 31% in 12 months.

Britain's Marks & Spencer has emerged as one of the most successful high street performers this Christmas, reporting a striking 8.9% increase in like-for-like food sales and a 1.9% rise in sales of clothing, home, and beauty items.

Chief Executive Stuart Machin attributes this notable performance to the company's sustained momentum throughout 2024, with record-breaking sales days for food and Clothing, Home & Beauty online. Despite these gains, Machin maintains a cautious outlook, citing economic and cost-related challenges ahead.

In November, M&S projected a 120 million pound hit from higher taxes and wages, yet shares have climbed 31% over the past 12 months. This growth showcases a robust recovery in the face of a difficult environment.

(With inputs from agencies.)