Marx and Spencer are celebrating the best Christmas as Rosie Huntingdon-Whiteley sparked the sale of the bra
Marx and Spencer celebrated their best Christmas as it became the UK’s fastest growing grocery store and the bras flew off sale.
In the three months to Jan. 1, food sales were up 10 percent from a year earlier – leaving competitors like Tesco and Aldi behind.
And its clothing and home arms sales grew 37.7 percent from 2020 and, most importantly, 3.2 percent from 2019.
According to Trend: Sales of bras, including lines designed by Rosie Huntingdon-Whiteley (pictured), increased by 40% compared to 2020 and 13% compared to 2019.
M&S enjoyed a record quarter in underwear as women returned to stores for bra accessories after the locks were eased.
Sales of bras, including lines designed by the Rosie Huntington-Whiteley model, were up 40 percent from 2020 and 13 percent from 2019, with the Bluewater store in Kent accommodating about 650 women each month.
CEO Steve Rowe congratulated M&S on a “strong” Christmas and added: “I am encouraged that our transformation plan is now motivating us to improve our performance.”
Signs of a recovery in M&S have nearly tripled since the pandemic rate was low in mid-2020. But yesterday’s stock fell 8 percent, or 20p, to 233p after warning of a “difficult balance” to manage rising costs.
While M&S points out that while it is working hard to lower prices, some increases are inevitable for customers.
The 138-year-old retailer has more than 1,000 stores in the UK, including more than 700 Simply Food stores.
Sales across the group were £ 3.3bn, up 18.5 per cent from a year earlier and 8.6 per cent higher than Covid’s previous level.
That led to an improvement in the forecast, and the retailer said profits for the year before April 2 would be “at least £ 500 million”. This is his third benefit in the last six months.
Food sales have boosted with holiday-themed products as M&S sells its one million bottles of light snow globe gin and more than a million flashing baking boxes.
Strong figures in clothing, which has struggled with declining sales over the years, have topped £ 1bn.
In-store sales were 10.8 percent lower than the 2019 level, while online shopping was 50.8 percent higher.
Clive Black, a retail analyst at Shore Capital, said: “The bottom line is that M&S food sales are very strong and people now want to buy M&S clothing.”