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M&S reports 8.9% jump in food sales over Christmas

  • Marks & Spencer reported a 5.6% increase in sales for the third quarter, totaling £4.06 billion, with food sales up 8.7% year-on-year during the Christmas period.
  • Chief Executive Stuart Machin stated that food sales reached their biggest day ever on December 23, while clothing, home, and beauty saw their largest week online.
  • Despite strong sales, M&S shares fell over 8% due to concerns about the economic environment and rising costs from tax increases announced in October.
  • Machin emphasized that M&S will focus on efficiency and meeting customer needs, stating, 'Transforming M&S is a marathon, not a sprint.
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