Stalling food sales hit festive trading at M&S

Retail giant Marks & Spencer has revealed “mixed” festive trading after another steep fall in sales in its embattled clothing arm and disappointing trading in its food halls.

The high street bellwether blamed a tough October for a 2.8% fall in like-for-like clothing and home sales over the 13 weeks to December 30, while it said “ongoing under-performance” in its food arm saw sales fall 0.4%.

However, the declines were not as bad as some analysts had feared.

M&S said trading in the key Christmas weeks had helped make up for a weak clothing market and more difficult conditions in food.

Steve Rowe, chief executive, said: “M&S had a mixed quarter with better Christmas trading in both businesses going some way to offset a weak clothing market in October and ongoing under-performance in our food like-for-like sales.”

He said the group was on track to meet full-year profit expectations.

M&S said it held off from slashing prices despite intense competition on the high street and saw sales grow both in store and online in the weeks leading up to Christmas.

It also shunned the Black Friday discount frenzy in November.

Shares closed down 22.8p at 301.2p.

M&S food sales moved lower over the vital Christmas period.