Marks & Spencer golden quarter sales slide as Covid restrictions bite
Marks & Spencer has suffered a slump in sales during the golden quarter as trading restrictions sparked by the coronavirus crisis hindered its performance.
The high street bellwether posted a 7.6% drop in like-for-like sales in the 13 weeks to December 26. Total sales were down 8.4% to £2.77bn.
Food sales grew 2.6% on a like-for-like basis across the quarter, while same-store sales in its clothing and home division tumbled 24.1%.
During the key month of December, M&S said total sales fell at the much slower rate of 3.6%.
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