A Marks & Spencer store at Oxford Street Photograph: Henry Nicholls/Reuters
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Marks & Spencer has hailed a strong Christmas as the UK retailer’s turnaround strategy starts to pay off….. as supermarket chain Tesco upgrades its profit outlook.
M&S’s UK sales jumped by 8.9% in the last quarter, compared to pre-pandemic levels two years ago, a trading update just released shows.
In the last 13 weeks of 2021, food sales were 12.4% higher than in the last quarter of 2019, with M&S’s Retail parks and Simply Food stores “continued to outperform”.
Basket sizes increased, as customers used M&S for more of their everyday shopping — perhaps splashing out on more…