M&S celebrates bumper Xmas as sales top £4bn
Within this, online sales were up 11.7% driven by customer growth and improved availability and represented 34% of sales in the period versus 31% last year
M&S has reported a successful Christmas trading update as its total group sales increased by 5.6% to £4bn in the 13 weeks to 28 December 2024.
The group’s food sales increased 8.7%, with LFL sales up 8.9%. Core categories, such as meat, produce, grocery and in-store bakery grew double-digits as customers chose M&S for more of their everyday shopping.
Its ‘Remarksable’ value range sales also grew 14%. Meanwhile, Clothing, Home and Beauty sales increased 1.0%, with LFL sales up 1.9%, ahead of the market despite challenging conditions.
Within this, online sales were up 11.7% driven by customer growth and improved availability and represented 34% of sales in the period versus 31% last year.
Additionally, new and renewal stores exceeded expectations, and sales growth continued to be driven by investment in quality and value, and 500 new lines in the period.
However, international sales were down 2.8%, largely driven by continued challenging market conditions in India and the phasing of franchise shipments.
Looking ahead, the group said that its outlook for economic growth, inflation and interest rates is “uncertain” and that the business faces higher costs from well-documented increases in taxation.
As a result, it added that reset actions are underway and it remains “confident in the growth opportunity” over the medium term.
Stuart Machin, chief executive, said: “The external environment remains challenging, with cost and economic headwinds to navigate, but there is much within our control. At M&S, we stay close to our customers and their needs, and with that in mind our investment in trusted value, along with great quality, style and innovation remains our priority.
“Transforming M&S is a marathon, not a sprint, and we go into 2025 shifting up a gear and racing to go as we accelerate the scale and pace of change. Thank you to all of our customers for shopping with M&S this Christmas and to all of our colleagues for their extraordinary effort delivering M&S’s busiest ever peak.”
