Marks & Spencer Group Plc (MAKSY.PK,MAKSF.PK,MKS.L) reported third quarter Group sales of 3.86 billion pounds, an increase of 7.2% from last year. Total UK sales were 3.57 billion pounds, an increase of 8.5%, or up 8.1% on a like-for-like basis. Food sales increased 10.5%, with LFL sales up 9.9%. Clothing & Home sales increased 4.8%, with LFL sales also up 4.8%. International sales were down 6.4%, the Group said.
Stuart Machin, Chief Executive, said: "Our strategy to reshape M&S for growth has enabled sustained sales momentum across Food and Clothing & Home over the Christmas period."?
Marks & Spencer stated that the strong Christmas trading performance provides confidence that the results for the year will be consistent with market expectations. The Group noted that it faces additional cost increases from higher than anticipated wage and business rates related cost inflation.
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