Published: Fri, January 12, 2018
Money | By Armando Alvarado

Festive sales fall for Marks and Spencer

Festive sales fall for Marks and Spencer

Like-for-like sales and volumes in fresh food in the United Kingdom were up by 3.7 per cent, driving overall like-for-like sales growth in the country to 1.9 per cent.

Its like-for-like sales growth was 1.9 percent and food rose by 3.4 percent.

And although some shareholders will be put at ease by a reiteration of FY guidance, it seems unlikely to reduce concerns that the M&S turnaround is failing to see the success of the aforementioned Tesco, while also raising further questions about how much pressure the United Kingdom high street can handle from the rise of online retailers.

Record Christmas sales helped Sainsbury's increase its market share of turkey over the festive period, according to third-quarter results covering 15 weeks to 6 January 2018.

"In the Christmas week itself (.) we sold more food than ever before at Tesco as we made our offer the most competitive it's been for many, many years", he told reporters.

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

The retailer saw its biggest ever sales week in the United Kingdom over Christmas, with 58 million customer transactions and 770,000 online grocery deliveries in one week.

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In its financial third quarter, M&S reported a 0.1% fall in total group sales to £3.167bn.

But he added that the collapse of the Palmer & Harvey tobacco supplier had taken "the shine off an otherwise outstanding performance for the period as a whole".

Tesco Bank sales grew by 4.8% over the 19-week period, with the number of savings and current accounts rising, and new mortgage customers added.

Britons, whose spending power has been squeezed by inflation, prioritised food this Christmas and cut back on almost everything else, industry data has shown.

Tesco is experiencing strong momentum relative to its peers and in October Mr Lewis hailed a "significant milestone" after unveiling the first dividend payout for three years.

The price war that has ravaged the industry (thank Aldi and Lidl for that) doesn't just effect the likes of Tesco and Morrisons and Waitrose - often seen as a more "premium" supermarket - Waitrose also complained of margin pressures.

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