Homeware and clothing were at the top of Marks and Spencer sales this Christmas. They haven’t experienced growth like this in two years.
According to reports, there was a 2.3% increase which is significantly higher than the 0.5% prediction.
Steve Rowe, chief executive for the store stated: “an improvement in availability, price and range is what was responsible for our high sales.”
Their success was also due to the fact that there were extra shopping days during Christmas this year.
There was an increase in food sales by 0.6%, which was slightly lower than Tesco’s food sales increase of 1.3%.
Marks and Spencer suggested that the Christmas season added 1.5% to the increase in homeware and clothing sales, and approximately 0.3% to food.
Mr Rowe also stated that the next trading update may not be so favorable due to the timing. “Looking forward, our numbers during the fourth quarter will be negatively affected by a late Easter and sales timing.”
Marks and Spencer were at the forefront of all big retailers for the festive season, they did much better than expected.
For the past five years, they have seen a sharp decline in clothing sales.
Their success last year is possibly as a result of Mr Rowes back to basic reforms. These included the closure of the majority of their international stores and hundreds of job cuts at head office.
Marks and Spencer were not the only store to experience success last year. Sales at John Lewis had increased by 2.7% and Waitrose experienced a 2.8% increase.
Tesco also reported an increase in Christmas sales; this rise was as a result of a strong demand for fresh food.
Other updates include Sportswear chain JD Sports reporting a 10% like for like sales increase.
Photo credit: Hannu Makarainen