M&S suffers sales fall in `mixed´ Christmas trading

12 January, 2018, 03:24 | Author: Lester Mason
  • High Street crash

Tesco has emerged as a festive victor after reporting a steep rise in sales over the critical Christmas trading period.

This helped Tesco notch up a 2.3% rise in third quarter comparable sales.

As a result, its shares are being punished by the market and are down 4.8% to 201.7p.

Rowe said M&S's clothing and homeware revenue grew both in-store and online over the weeks leading up to Christmas, and the retailer held its full prices when others were cutting theirs.

The supermarket group said that over the 19 weeks to January 6, it had experienced the highest rate of market share growth in Ireland for five years with like-for-like sales increasing by 3.5%.

In the United Kingdom like-for-like sales growth of 1.9pc, driven by a 3.4pc like-for-like increase in sales of food, was offset by ongoing drag from general merchandise and lost tobacco sales due to the Palmer & Harvey integration.

According to its latest trading update, third quarter like-for-like sales in the United Kingdom grew by 2.3 per cent - representing Tesco's eighth consecutive quarter of growth - and total sales grew 2.5 per cent.

Chief executive Dave Lewis said: "We have continued to outperform the market throughout this period, particularly in fresh food".

Wikileaks Founder Julian Assange Granted Citizenship by Ecuador
A statement by Mr Assange's legal team said: 'The UN ruling, issued nearly two years ago, is crystal clear in its language. He had been wanted on assault claims in Sweden , which have been dropped, but now fears extradition to the US.

Facebook Testing Local News & Events Section in its App
According to a report by TechCrunch , Facebook is calling this feature " Today In " and testing it in select markets. CNET reported today that the test is now live for a new section called " Today In " across six U.S. cities.

Drunk man slaps Harvey Weinstein in the face at Arizona restaurant
Weinstein has further confirmed that there were never any acts of retaliation against any women for refusing his advances. The man said that Weinstein vehemently refused, although the restaurant manager stated that Weinstein did so politely.

Food sales rose 3.6% on a total basis to £1.666bn, but like-for-like food sales were down 0.4%.

Supermarkets Morrisons and Sainsbury's also suffered in the wake of the slump, drifting down 3.3p to 226.2p and 5.3p to 248.6p respectively.

Market research this week had identified Tesco as a festive victor, but the group said lower sales of general merchandise and the collapse of a tobacco supplier cast a shadow over a record week of trading before Dec (Shanghai: 600875.SS - news). 25.

Lidl has claimed it was the "fastest growing supermarket" over Christmas after booking record festive sales.

Like-for-like sales in the United Kingdom went up 2.3%, having increased 2.1% in the second quarter.

Fiona Cincotta, analyst at City Index, said: "Retailers were out of favour throughout the day, following disappointing numbers from Marks & Spencer".

Rowe added changes were underway at the retailer to "get the business back on track" this year.



James Franco Accused of 'Sexually Exploitative' Behavior by Five Women
She said that for years, she received mass email requests from Franco to audition for roles playing "a prostitute or a hooker". "First of all I want to say, I wore [the Time's Up pin] because I do support it", Franco said .

Donkey Kong Country Tropical Freeze On Switch
If Tropical Freeze gave you trouble on Wii U, then, it might be worth revisiting on Switch and playing as Funky Kong. The writers here at Nintendo Enthusiast are huge fans of Tropical Freeze , so this is a welcome announcement.

New Switch ports and video games announced in Nintendo Direct
New DLC for Mario + Rabbidsincludes new story content starring Donkey Kong as a playable fighter this Spring. This version of the game will also include the ability to play as Funky Kong, according to Eurogamer .

Google bought a United Kingdom startup that turns screens into speakers
The reason was simple: in the ongoing fight to make thinner smartphones that pack in more and more tech, space is at a premium. It could also improve waterproofing for future phones since it eliminates the need for speaker holes.

Giants to hire Matt Patricia as head coach?
Leonard said Patricia is expected to be named as the next coach of the Giants , replacing the fired Ben McAdoo. National Football League rules state Patricia can not execute a contract until the Patriots' season ends.

Man burns down own apartment trying to kill spider with fire
The fire wasn't enough to completely destroy the apartment, but the extent of the damage has forced the residents to move out. Currently, there are about 200 species of wolf spiders in North America - they are common in California .

Google's point-and-shoot VR180 cameras from Lenovo, YI announced at CES
So the two cameras they announced today are the Lenovo Mirage Camera with Daydream and the Yi Horizon VR180 Camera . The content can be viewed on a standard display of course , but it's really meant to be used with a VR headset .

Trump just held an extraordinary public negotiation with Congress on immigration
Dick Durbin, D- Ill. told Trump he would find Democratic support on some elements of border security. At a White House meeting with Republican and Democratic members of Congress Tuesday, Sen.

Study Links Ibuprofen With Male Infertility
However, Kristensen emphasises that despite the results of the study , men should not stop taking the drug. But a new study raises questions about the risks of frequent usage of ibuprofen by young men.

Razer's Project Linda is an insane laptop/Razer phone hybrid
That said, Razer's intent is to provide "enhanced productivity and differentiated gaming experiences" with Project Linda . You'll be able to enjoy that surround sound mimicking feature through the phone's stereo front facing speakers.