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M&S festive food sales fall - but Tesco and Sainsbury’s post positive results

Marks and Spencer food sales fell over the festive period although late trading was helped by ‘price investment’ before Christmas and seasonal lines.


Alex   Black

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Alex   Black
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M&S festive food sales fall - but Tesco and Sainsbury’s post positive results

Chief executive Steve Rowe said it trading had been mixed in the third quarter with Christmas trading somewhat offsetting underperformance in like for like food sales.

 

Like-for-like food revenues fell 0.4 per cent over the thirteen weeks to December 30.


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At Tesco, UK like-for-like food sales rose by 3.4 per cent, with fresh food up 3.7 per cent. It delivered its biggest ever week of sales, with 58 million customer transactions and 770,000 online grocery deliveries in the key Christmas week.

 

Performance

 

Chief executive Dave Lewis said: "We have continued to outperform the market throughout this period, particularly in fresh food, thanks to our most competitive offer for many years.

 

“Our trading momentum accelerated across the third quarter and into December, with the four weeks leading up to Christmas Day delivering record sales and volumes in the UK.”

 

Sainsbury’s grocery sales also grew 2.3 per cent with online and convenience up 8.2 per cent and 7.3 per cent respectively. Convenience sales were boosted this year by Christmas Eve falling on a Sunday.

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