Increased food sales provided relief for Marks & Spencer during a “challenging” fourth quarter. The retailer recorded a one per cent increase in like-for-like food sales in the UK for the fourth quarter of 2011-12, despite total sales falling by 0.7 per cent.
M&S ceo Marc Bolland, said the retailer had “continued to make progress in a challenging market”, noting that the company’s food business had “again performed well”.
“In food, we performed well in a very competitive market and against tough comparatives,” he said. “…We have continued to manage costs tightly, and are confident of delivering full year profits in line with expectations.”
