By Christian Moess Laursen
Marks & Spencer said it expects its full fiscal-year results to meet market views after a strong performance over the key Christmas period.
The U.K. retailer said Thursday that group sales rose 7.2% over the 13 weeks to Dec. 30, driven by an 11% increase in sales from its food division, while the clothing & home unit’s sales increased 4.8%.
“Our strategy to reshape M&S for growth has enabled sustained sales momentum across Food and Clothing & Home over the Christmas period,” Chief Executive Stuart Machin said.
Total U.K. sales rose 8.5%, while international sales fell 6.4%.
The FTSE 100-listed group said it entered the year on a positive note, but remains conscious of near-term challenges, citing consumer and geopolitical risks, as well as additional cost increases from higher-than-anticipated wage and business rates related cost inflation.
“Nevertheless, the strong Christmas trading performance provides confidence that the results for the year will be consistent with market expectations,” it said.
Write to Christian Moess Laursen at christian.moess@wsj.com
