Christmas sales soar for Marks & Spencer and Tesco

1/13/2022 6:00:00 PM
Christmas sales soar for Marks & Spencer and Tesco

M&S's food business records its best-ever festive sales while Tesco boasted of 'exceptional' demand.

'Despite all the supply chain problems and labour shortages - the all-important festive trading was pretty decent for the industry overall.'

M&S's food business records its best-ever festive sales while Tesco boasted of 'exceptional' demand.

M&S's Percy Pig character fronted its Christmas campaign this yearMarks & Spencer and Tesco saw sales soar over Christmas as both retailers forecast strong full-year profits.M&S said its food business reported its highest-ever revenue for Christmas, while Tesco said it was an "exceptional" festive period for sales.

Tesco now expects annual income to hit the top end of forecasts at £2.6bn.Meanwhile, M&S said it was "now more confident" of reaching previous expectations of at least £500m in profits for the full-year.Tesco's chief executive Ken Murphy said that "once again, Covid-19 led to a greater focus on celebrating at home". As a result, Tesco's Christmas sales in the UK rose by 0.3% compared to the previous year and were 9.2% higher than the pre-pandemic festive period in 2019.

Read more: BBC London »

Four-year-old girl dies in house explosion in south London

Six fire engines and around 40 firefighters were sent to the blaze in Galpin's Road, Thornton Heath, shortly after 7am on Monday. Four other people were rescued from the property, which collapsed after the blast. Read more >>

M&S and Tesco hail strong Christmas performances – business live

M&S and Tesco hail strong Christmas performances – business liveRolling coverage of the latest economic and financial news, as Marks & Spencer, Tesco, ASOS and Card Factory update the City on retail Super Thursday Ummmm tesco put out a luxury Xmas cake with NO glacé cherries. It was made to a Bulgarian recipe. The Bulgarians believe glacé cherries are their ancestors. So you can see why they left them out. Next year get someone British makes your cakes skanks

Inside the Downing Street lockdown party: Tesco rosé and jokes about drones

Inside the Downing Street lockdown party: Tesco rosé and jokes about drones“After what has been an incredibly busy period we thought it would be nice to make the most of the lovely weather and have some socially distanced drinks in the No 10 garden this evening” They don't know the meaning of the word busy or hard work! ПРИВЕТ МАЛЫШ

M&S and Tesco hail strong Christmas performances – business live

M&S and Tesco hail strong Christmas performances – business liveRolling coverage of the latest economic and financial news, as Marks & Spencer, Tesco, ASOS and Card Factory update the City on retail Super Thursday Ummmm tesco put out a luxury Xmas cake with NO glacé cherries. It was made to a Bulgarian recipe. The Bulgarians believe glacé cherries are their ancestors. So you can see why they left them out. Next year get someone British makes your cakes skanks

Conservative Christmas party: Shaun Bailey quits second role

Conservative Christmas party: Shaun Bailey quits second roleThe resignations come after he was photographed attending a Christmas party during lockdown in December 2020. Meaningless. He should resign his seat on the London Assembly. But then he’s a politician, integrity is never a bedfellow. ConHome JamesCleverly you championed this man for mayor of London!! What a waste, he’s a good bloke

Hollywood stars back Emma Watson after Palestinian solidarity post

Hollywood stars back Emma Watson after Palestinian solidarity postSusan Sarandon and Mark Ruffalo among signatories to letter supporting Harry Potter actor accused of antisemitism So they doin any sin ? Everyone who talks about humanity should be backed. First based thing I've heard from her, there is hope. Get the latest news and analysis on Israel and the Middle East

Hollywood stars back Emma Watson after Palestinian solidarity post

Hollywood stars back Emma Watson after Palestinian solidarity postSusan Sarandon and Mark Ruffalo among signatories to letter supporting Harry Potter actor accused of antisemitism Free people can not be controlled by brutal israeli regime.. Lol freedom of speech doesn't exist when it comes to certain country. So if I criticise a dictatorship regime in Africa I'm going to be called a racist? Of course not. So FreePalestine

Image caption, M&S's Percy Pig character fronted its Christmas campaign this year Marks & Spencer and Tesco saw sales soar over Christmas as both retailers forecast strong full-year profits.Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.nior officials in Downing Street, had just told 100 staff: “After what has been an incredibly busy period we thought it would be nice to make the most of the lovely weather and have some socially distanced drinks in the No 10 garden this evening.Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

M&S said its food business reported its highest-ever revenue for Christmas, while Tesco said it was an "exceptional" festive period for sales. Tesco now expects annual income to hit the top end of forecasts at £2..6bn. Meanwhile, M&S said it was "now more confident" of reaching previous expectations of at least £500m in profits for the full-year.. Tesco's chief executive Ken Murphy said that "once again, Covid-19 led to a greater focus on celebrating at home"..

As a result, Tesco's Christmas sales in the UK rose by 0. as supermarket chain Tesco upgrades its profit outlook.3% compared to the previous year and were 9.2% higher than the pre-pandemic festive period in 2019.9% in the last quarter, compared to pre-pandemic levels two years ago, a trading update just released shows. Earlier this week, Sainsbury's also reported strong Christmas sales with more people choosing to eat at home rather than venture out amid the emergence of the Omicron variant. M&S - whose Christmas campaign was fronted by its Percy Pig confectionary character - said sales within its food division rose to £1.4% higher than in the last quarter of 2019, with M&S’s Retail parks and Simply Food stores “continued to outperform”.4% higher than in the last quarter of 2019, with M&S’s Retail parks and Simply Food stores “continued to outperform”.

9bn in the three months to 1 January - a 10% increase on 2020 and up 12.4% on pre-Covid levels. Clothing & Home sales, which have long been a problem area for M&S, rose 3. Tesco and M&S have had a cracking Christmas. Other big retailers have also reported bumper sales. M&S says it is now “more confident” of hitting its recent upgraded profit forecasts of £500m -- unless new material restrictions or lockdowns are imposed. Despite all the supply chain problems, labour shortages and the arrival of the Omicron variant, the all-important festive trading was pretty decent for the industry overall. M&S’s chief executive, Steve Rowe, said: “Trading over the Christmas period has been strong, demonstrating the continued improvements we’ve made to product and value.

Supermarkets were up against some tough comparisons after last year's record-breaking performance, when Covid restrictions caused a boom in food sales. Clothing & Home has delivered growth for the second successive quarter, supported by robust online and full price sales growth. But they've been buoyant this time round, too. People wanted to treat themselves and there was more eating and drinking at home. The market continues to be impacted by the headwinds and tailwinds that we reported in the first half, but I remain encouraged that our transformation plan is now driving improved performance. And after all the fears of empty shelves and shortages, there was plenty of food. Consumers were in the mood to spend on non-food as well. The UK’s biggest supermarket has reported a rise in Christmas sales, and declared that its market share is now the highest in four years. The UK’s biggest supermarket has reported a rise in Christmas sales, and declared that its market share is now the highest in four years.

They were also prepared to pay full price to make sure they got what they wanted, boosting retailers' profit margins. There may have been a little less choice but the demand, at least, was there.3% year-on-year over the Christmas period, and were 8. Retailers are now wondering what will happen to consumer spending given the looming squeeze on living standards from rising bills and the increase in national insurance contributions. They're also having to deal with their own soaring costs and continuing supply chain issues. Tesco says that it now expects retail operating profits slightly above its previous guidance, after stronger than expected sales this year. So having had much to celebrate this Christmas, there are lots of uncertainties ahead. Tesco CEO Ken Murphy says: “We are delighted that we were able to help our customers have a great Christmas.

The retailer said that customers were already using M&S for more of their everyday shopping items and it said "the larger basket sizes we saw in the first half continued through the Christmas period". Despite growing cost pressures and supply chain challenges in the industry, we continued to invest to protect availability, doubled down on our commitment to deliver great value and offered our strongest ever festive range. M&S said total sales for the three month period rose by 18.6% to £2,9bn compared to the previous quarter. As a result, we outperformed the market, growing market share and strengthening our value position. They were also 8.9% ahead of 2019...

Revenue from its clothing and home division also rose but this was driven by online sales. In-store clothing and home demand fell by 10.) Yesterday, supermarket group J Sainsbury, sportswear/fashion firm JD Sports and homeware chain Dunelm alo lifted their profit forecasts Today we also get the latest US jobless figures, which may show an impact from omicron on America’s labor market.8% compared to pre-Covid levels which M&S said reflected a trend already evident before the pandemic that more people were shopping online. It also said shops at retail parks continued to outperform stores in city centres. The agenda. M&S's chief executive Steve Rowe said: "The market continues to be impacted by the headwinds and tailwinds that we reported in the first half.

" At the time, Mr Rowe said: "Well-publicised supply chain pressure, combined with pandemic supply interruptions, rising labour costs, EU border challenges and tax increases means the cost incline becomes steeper in the second half and steeper again in the 2022-23 year." But on Thursday Mr Rowe said: "I remain encouraged that our transformation plan is now driving improved performance." Image source, Getty Images At Tesco, Mr Murphy said: "Despite growing cost pressures and supply chain challenges in the industry, we continued to invest to protect availability." In terms of staff shortages and a dearth of lorry drivers which has affected all areas of the retail sector, Mr Murphy said there had been improvements since summer. While he said it would be wrong to say there are no issues, "we're managing".

More on this story .