CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
☰
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
✖

M amp S confirms Christmas sales rise

Article By: ,  Financial Analyst
January 9, 2014 10:15 AM

Marks and Spencer's (M&S's) Christmas sales were up in the 2013 festive period, the firm has announced in its new festive trading statement today (January 9th).

For the 13 weeks to December 28th, its group sales were up by 1.8 per cent for the figures for the 2012 period, while sales rose by 3.2 per cent in the eight weeks before Christmas itself.

The earnings of M&S were broadly in line with the expectations of analysts and its share price is fairly stable in the early stages of trading this morning as a result.

As with many of the UK's top retailers, online sales were a particularly strong area of growth for M&S last Christmas, with a 24.1 per cent increase in the eight weeks leading up to Christmas and a 22.7 per cent rise in online sales in the quarter overall.

Improved results

Marc Bolland, chief executive of the company, stated that the firm was able to deliver an improved series of results in what makes up a highly competitive market at that time of year.

"However, an exceptionally unseasonal October, which saw [general merchandising] sales down strongly, has resulted in a quarterly performance below our expectations. Our food business had an excellent quarter, with 4.1 per cent growth and record sales over the Christmas period, including our biggest day ever in food of £64 million on December 23rd," he said.

Mr Bolland added that his aim is to transform M&S into an international, multichannel retailer and as such is pleased with the strong rise in online sales recorded over the course of the last quarter of 2013.

"I'd like to thank all of our colleagues for their exceptional hard work and commitment over the key Christmas period," he said, stressing how challenging the retail market has been for companies in the latest festive period.

Following the release of the festive period sales data, the share price of M&S is slightly up this morning, with stocks around one per cent higher at 08:37 GMT today.

Find up to date information on the FTSE 100 and spread betting strategies at City Index

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFD and Forex Trading are leveraged products and your capital is at risk. They may not be suitable for everyone. Please ensure you fully understand the risks involved by reading our full risk warning.

City Index is a trading name of StoneX Financial Ltd. Head and Registered Office: 1st Floor, Moor House, 120 London Wall, London, EC2Y 5ET. StoneX Financial Ltd is a company registered in England and Wales, number: 05616586. Authorised and regulated by the Financial Conduct Authority. FCA Register Number: 446717.

City Index is a trademark of StoneX Financial Ltd.

The information on this website is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement.

© City Index 2024