M&S suffers sales fall in 'mixed' Christmas trading

PA

Retail giant Marks & Spencer has revealed "mixed" festive trading after another steep fall in sales in its embattled clothing arm and disappointing trading in its food halls.

The high street bellwether blamed a tough October for a 2.8% fall in like-for-like clothing and home sales over the 13 weeks to December 30, while it said "ongoing under-performance" in its food arm saw sales fall 0.4%.

But the declines were not as bad as some feared, following recent profit warnings from the likes of Debenhams, Moss Bros and Mothercare.

Chief executive Steve Rowe is leading turnaround efforts to boost sales and profits at the chain (M&S/PA)
Chief executive Steve Rowe is leading turnaround efforts to boost sales and profits at the chain (M&S/PA)

M&S said a pick up in trading over the key Christmas weeks helped make up for a weak clothing market and more difficult trading in its food business, with consumer spending under pressure amid a squeeze on budgets from inflation.

Steve Rowe, chief executive, said: "M&S had a mixed quarter with better Christmas trading in both businesses going some way to offset a weak clothing market in October and ongoing under-performance in our food like-for-like sales."

He said the group remained on track to meet full-year profit expectations.

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