Overview
- Marks & Spencer reported like-for-like food sales up 5.6% in the 13 weeks to December 27, with UK volumes rising 2.3% and a record number of Christmas shoppers.
- M&S’s Fashion, Home & Beauty division saw like-for-like sales fall 2.9% as reduced high street footfall and lingering effects from last year’s cyber attack hit store trade.
- Chief executive Stuart Machin said M&S will push investment and innovation in Food and press on with reshaping the business, with the company reiterating full-year guidance and shares rising after the update.
- Associated British Foods said Primark performed below expectations in the 16 weeks to January 3, now guiding to low single-digit sales growth for the first half of 2026 and forecasting operating profit and EPS below last year.
- Primark’s UK sales grew 3% with like-for-like about 1.7%, while continental Europe like-for-like declined 5.7%, and AB Foods said deeper markdowns to clear stock have pressured margins.