M&S sees food and clothing sales fall over Christmas quarter

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Shares were 4 per cent down in early trading

M&S has reported that its food and clothing sales were hit, by 0.4 per cent and 2.8 per cent respectively, for the 13 weeks to 30 December.

The retailer blamed unseasonal autumn weather for the dip in its clothing and home division over the Christmas quarter.

Shares were 4 per cent lower in early trading.

Boss Steve Rowe labelled the trading returns quarter “mixed”. He also said that M&S had seen revenue grow both in-store and online in the weeks leading up to Christmas while it maintained its full-price stance in a “very promotional market” and did not participate in the Black Friday discount day.

“However, the impact of an unseasonal October resulted in an overall revenue decline,” said Rowe, adding: “As a result, we carried more stock into the December sale.”

Its figures were released at the same time as rival John Lewis, which reported a 3.1 per cent rise in like-for-like sales for the six weeks to 30 December.



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