Food sales continue to drive the Stuart Rose inspired recovery at Marks & Spencer, which the chief executive this morning put down to “sheer hard work”.
M&S told the city that it enjoyed a "particularly strong" Christmas and is encouraged by its overall performance in the third quarter of its financial year. Like-for-like sales rose 2.9 per cent in the 13 weeks to the end of December.
M&S sales increased 4.8 per cent in the period. However, food sales outperformed the rest of the store, registering an uplift of close to eight per cent. Sales of general merchandise rose more slowly, gaining On a high street characterized by sever price-discounting, even over the Christmas period, Rose said that M&S had not offered any discounts. "Overall we have repositioned our prices and concentrated on giving our customers value. In terms of discounting, (there was) absolutely no discounting at all.
"I am very pleased with this set of results but we have a lot more work to do," he added.
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