MARKS & Spencer announced yesterday that it enjoyed its best Christmas for three years as food sales surged and it avoided discounts on its clothing ranges.
The retailer beat expectations with sales growth of 2.9 per cent in the 13 weeks to New Year's Eve, persuading many in the City to raise their predictions for annual profits.
M&S described the performance as encouraging because there was no repeat of the two "mega-days" of bargains held in the run-up to the previous Christmas to shift surplus stock.
Food saw the strongest improvement with same-store sales up 5.1 per cent against City forecasts of three per cent growth - driven by products that are easy to prepare, such as delicatessen platters and the so-called "no touch turkey", which is sold in a bag.
The statement came as the British Retail Consortium said food was a key driver of a 2.6 per cent improvement in UK retail sales last month, although it found that clothing and footwear struggled
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