M&S records 1.5% LFL food increase for Christmas

Marks & Spencer (M&S) has seen a 1.5% increase in like-for-like (LFL) food sales during the Christmas period, according to its latest results.

Published in the company’s third-quarter interim management statement for the 13 weeks to 28 December 2013, M&S saw 3.8% growth in its food business during the eight weeks to 24 December.

According to the company, it saw “record sales over the festive period”, up 6.1% over the food market’s key Christmas and New Year trading period (three weeks to 4 January 2014).

In Q3, LFL food sales were up 1.6%, with 4.1% growth during the 13 weeks to 28 December 2013.

Marc Bolland, chief executive, said: “Our food business had an excellent quarter, with 4.1% growth and record sales over the Christmas period, including our biggest day ever in food of £64m on 23 December.”

Bolland added that M&S.com also saw a “great quarter”, with sales up 23%, “strongly ahead of the market”.

The business launched around 800 new products for the Christmas period.

Given continued pressure on disposable incomes, M&S said it remained cautious about the outlook, noting that its focus was to make the business an international, multi-channel retailer.

Marks & Spencer Group will report its fourth-quarter trading statement on 10 April 2014. 

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