Clothing & Home sales rise at M&S during Christmas

National high street retailer Marks and Spencer has reported a strong Christmas trading period.

According to its latest update for the 13 weeks ended 30 December 2023, total group sales rose 7.2% to £3.8bn.

This was driven by food sales, up 10.5% to £2.3bn, with clothing and home revenues rising 4.8% to £1.2bn.

With its clothing and home category, M&S said that uptick was driven by growth in average selling price, partly a result of reduced promotions year-on-year.

“Store sales increased 2%, with new full line stores performing ahead of plan. Online sales grew 10.9%, with improved carrier service levels compared with last year and strong demand for click and collect,” the retailer added.

“Full price sales mix improved and stock into sale reduced 6% year-on-year. With a deeper initial cut in line with our objective of a shorter clearance sale, sell through rates have been encouraging.”

Stuart Machin, Chief Executive, commented on the division too, stating: “In Clothing & Home, we delivered a good performance with sales growing ahead of the market and less stock going into sale. Womenswear has been the standout, growing volume and value significantly ahead of the market.”

Save this article for later

You can revisit this article if you save it as favourite news!

Leave a Comment

MORE ARTICLES