M&S clothing sales inch up during ‘good Christmas’

Clothing and home sales were up 1.9% on a like-for-like basis in the period.

During the quarter, total UK and ROI sales for the retailer increased 5.9% to £3.8bn, while overall group sales rose 5.6% to £4bn. M&S added that “partywear sales were up on last year”.

International sales were down 2.8% to £178m, largely driven by continued challenging market conditions in India and the phasing of franchise shipments.

The retailer said that “the opportunity for clothing, home and beauty in 2025 is to continue offering customers the best style, quality and value, but marry that with a focus on turning stock faster, further reducing options and optimising store range and space”.

Analysts had predicted sales growth of 0.7% for clothing and home from a company collated consensus.

Stuart Machin, chief executive of M&S, added: "This was another good Christmas for M&S, building on a strong performance in the prior year. In clothing, home & beauty our focus on style, quality and value saw us grow sales and take market share in a declining market, with womenswear and menswear performing well.”

He added that clothing, home and beauty had its biggest week online for sales during the quarter, but store sales overall were down 1.5% in part due to weather.

M&S revealed it is not immune to the current economic pressures, as inflation and interest rates remain uncertain, and higher costs following the recent Budget announcement.

Despite this, it said that there are “substantial opportunities and we are focused on what is within our control, as we reshape M&S for growth. Therefore, as indicated at the half year results in November, we are confident of making further progress in the remainder of the year.”

For the 26 weeks to 28 September 2024, M&S reported its profit before tax and adjusting items was up 17.2% at £407.8m.

Managing director of clothing and home Richard Price was awarded an MBE for services to fashion in the New Year Honours list.