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M&S sees FY in line as Christmas sales rise 8.1%
(Sharecast News) - UK retailer Marks & Spencer said it expected to deliver annual results in line with expectations despite higher-than-expected cost increases as it reported an 8.1% rise in sales over the key Christmas quarter driven by food revenue and womenswear. The company said UK sales cam in at £3.56bn in the 13 weeks to December 30. Food sales rose 9.9% as supply chain constraints eased, while clothing and homewares were up 4.8%, mainly due to price rises fewer discounts.
"As we enter the new year and full-year 2025, expectations for economic growth remain uncertain, with consumer and geopolitical risks," said chief executive Stuart Machin.
"We also face additional cost increases from higher than anticipated wage and business rates related cost inflation. Nevertheless, the strong Christmas trading performance provides confidence that the results for the year will be consistent with market expectations."
Reporting by Frank Prenesti for Sharecast.com
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