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| M&S beats Christmas sales forecast in clothing and homeware | M&S beats Christmas sales forecast in clothing and homeware |
| (about 1 hour later) | |
| Marks and Spencer has reported a rise in Christmas clothing and homeware sales for the first time in two years. | Marks and Spencer has reported a rise in Christmas clothing and homeware sales for the first time in two years. |
| Sales in the division rose 2.3% - well above expectations for about 0.5%. | Sales in the division rose 2.3% - well above expectations for about 0.5%. |
| The figures came on a bumper day for retail results, with trading updates from Tesco, John Lewis, Debenhams and Primark owner ABF. | The figures came on a bumper day for retail results, with trading updates from Tesco, John Lewis, Debenhams and Primark owner ABF. |
| Marks and Spencer's chief executive, Steve Rowe, said "better ranges, better availability and better prices" had helped sales to recover. | Marks and Spencer's chief executive, Steve Rowe, said "better ranges, better availability and better prices" had helped sales to recover. |
| But growth was helped by the timing of Christmas this year, which meant there were extra shopping days. | But growth was helped by the timing of Christmas this year, which meant there were extra shopping days. |
| Food sales were up by 0.6%. That compares with Tesco's food sales growth of 1.3%, while Sainsbury's food sales were down slightly. | Food sales were up by 0.6%. That compares with Tesco's food sales growth of 1.3%, while Sainsbury's food sales were down slightly. |
| Marks and Spencer: Good news finally? | Marks and Spencer: Good news finally? |
| Retail winners and losers this Christmas | |
| 'Super Thursday' Christmas trading updates | 'Super Thursday' Christmas trading updates |
| Tesco hails 'strong progress' as sales rise | Tesco hails 'strong progress' as sales rise |
| 'Green shoots' | 'Green shoots' |
| M&S estimated that the timing of Christmas had added about 1.5% to the clothing and home sales growth and about 0.3% to food. | M&S estimated that the timing of Christmas had added about 1.5% to the clothing and home sales growth and about 0.3% to food. |
| But Mr Rowe warned timing would be against them for the next trading update: "As we look forward, our Q4 [fourth quarter] reported numbers will be adversely affected by sale timing and a later Easter." | But Mr Rowe warned timing would be against them for the next trading update: "As we look forward, our Q4 [fourth quarter] reported numbers will be adversely affected by sale timing and a later Easter." |
| Analysis: Dominic O'Connell, Today programme business presenter | Analysis: Dominic O'Connell, Today programme business presenter |
| Marks & Spencer has turned out to be this year's surprise Christmas package. | Marks & Spencer has turned out to be this year's surprise Christmas package. |
| In a festive season where most of our big retailers did better than expected, M&S stood out, finally shrugging off its clothing sales hoodoo. | In a festive season where most of our big retailers did better than expected, M&S stood out, finally shrugging off its clothing sales hoodoo. |
| Clothing sales have been in decline - and often sharp decline - for the last five years, with the exception of one positive quarter two years ago. | Clothing sales have been in decline - and often sharp decline - for the last five years, with the exception of one positive quarter two years ago. |
| Over Christmas, however, like-for-like sales were up 2.3%, although the company was quick to point out that 1.5% of that was down to how Christmas fell, which meant there were five extra trading days compared to the relevant period a year earlier. | Over Christmas, however, like-for-like sales were up 2.3%, although the company was quick to point out that 1.5% of that was down to how Christmas fell, which meant there were five extra trading days compared to the relevant period a year earlier. |
| Even so, a 0.8% increase is not to be sneezed at, and is evidence perhaps that the back-to-basics reforms of chief executive Steve Rowe, which include hundreds of job losses at head office and the closure of most of the international stores, is having some effect. | Even so, a 0.8% increase is not to be sneezed at, and is evidence perhaps that the back-to-basics reforms of chief executive Steve Rowe, which include hundreds of job losses at head office and the closure of most of the international stores, is having some effect. |
| More from Dominic | More from Dominic |
| Analysts broadly welcomed the latest results. Bryan Roberts, global insight director at TCC Global, told the BBC: "It might be the sign of some green shoots in that part of the business." | Analysts broadly welcomed the latest results. Bryan Roberts, global insight director at TCC Global, told the BBC: "It might be the sign of some green shoots in that part of the business." |
| The improved performance comes after a poor set of figures for Christmas 2015. Then, like-for-like sales in food rose 0.5%, while turnover from its clothing and homeware lines plunged by 5.8% because of "unseasonal conditions and availability". | The improved performance comes after a poor set of figures for Christmas 2015. Then, like-for-like sales in food rose 0.5%, while turnover from its clothing and homeware lines plunged by 5.8% because of "unseasonal conditions and availability". |
| On the same day as those figures were announced, M&S said that chief executive Marc Bolland was stepping down and Steve Rowe - then the director of general merchandise division - would replace him. | On the same day as those figures were announced, M&S said that chief executive Marc Bolland was stepping down and Steve Rowe - then the director of general merchandise division - would replace him. |
| Mr Rowe has taken action, including cutting prices for nearly a third of the ranges and increasing staff numbers on the shop floors. | Mr Rowe has taken action, including cutting prices for nearly a third of the ranges and increasing staff numbers on the shop floors. |
| In September, Mr Rowe said more than 500 senior jobs would be cut, and, two months later, announced plans in November to close around 30 UK stores and convert 45 more into food-only shops. | In September, Mr Rowe said more than 500 senior jobs would be cut, and, two months later, announced plans in November to close around 30 UK stores and convert 45 more into food-only shops. |
| The retailer also announced plans to close some of its overseas stores. | The retailer also announced plans to close some of its overseas stores. |
| Among the key trading updates on Thursday, the John Lewis Partnership said like-for-like sales at its department stores had risen 2.7% over Christmas, while its Waitrose supermarket chain chalked up a 2.8% gain. | Among the key trading updates on Thursday, the John Lewis Partnership said like-for-like sales at its department stores had risen 2.7% over Christmas, while its Waitrose supermarket chain chalked up a 2.8% gain. |
| However, it warned that its staff bonus would be "significantly lower" this year because of the "challenging market outlook", adding that trading profit was "under pressure". | However, it warned that its staff bonus would be "significantly lower" this year because of the "challenging market outlook", adding that trading profit was "under pressure". |
| John Lewis staff are partners in the company and own the business. Last year, the bonus pool for its 91.500 staff totalled £145m, with an average payout of £1,585. | John Lewis staff are partners in the company and own the business. Last year, the bonus pool for its 91.500 staff totalled £145m, with an average payout of £1,585. |
| Supermarket giant Tesco reported a rise in Christmas sales, helped by strong demand for fresh food. | Supermarket giant Tesco reported a rise in Christmas sales, helped by strong demand for fresh food. |
| Christmas like-for-like sales grew 0.7% in the UK, and were up by 0.3% across the group as a whole. | Christmas like-for-like sales grew 0.7% in the UK, and were up by 0.3% across the group as a whole. |
| Other updates from retailers revealed: | Other updates from retailers revealed: |