M&S Christmas food sales rise while clothing lags after cyber attack

M&S reported stronger Christmas food sales while clothing sales fell, which the chief executive linked to the lingering impact of last year's cyber-attack and weaker high-street footfall.

Marks & Spencer said food sales strengthened over the Christmas trading period while clothing sales fell back. The company said this pattern comes as it works through the aftermath of last year's cyber-attack and as consumer confidence and footfall remained subdued. M&S reported that established-store sales rose and that overall sales increased when excluding its Ocado joint venture. Management said the non-food business is in recovery and the business will press ahead with planned store changes. Key points: - M&S recorded stronger Christmas food sales while clothing sales declined. - Chief executive Stuart Machin attributed weaker clothing, homeware and beauty performance to the long-tail impact on stock data from last year’s cyber-attack, along with reduced high-street footfall and fragile consumer confidence. - The retailer reported established-store sales up 5.6%, clothing sales down 2.9%, and total sales up 3.3% to £4.15bn, excluding Ocado. - M&S intends to accelerate its reshaping strategy by reducing clothing space in some stores and expanding food space. Summary: M&S saw its food business gain traction over the Christmas period while its non-food arm showed weaker sales linked to lingering data and stock issues from a previous cyber incident. The company reports that non-food is recovering and plans to speed up a reshaping strategy focused on more food space in stores as it navigates an uncertain consumer environment.