M&S shares tumble 7% after Christmas sales fall leaves sour taste

Overall sales were down 2.8 per cent in the 13 weeks to December 30 better than the City had feared but appreciably worse than competitors such as Tesco and Sainsbury

Marks & Spencer has attributed unseasonal weather to a fall in sales across its clothing and home division over the third quarter.

The group also reported data for the third quarter, with United Kingdom like-for-like sales up 2.3%, having increased 2.1% in the second quarter.

"Our trading momentum accelerated across the third quarter and into December, with the four weeks leading up to Christmas Day delivering record sales and volumes in the United Kingdom", chief executiuve Dave Lewis said.

"We are confident in the outlook for the full year and are firmly on track to deliver our medium-term ambitions". Total sales in United Kingdom however improved 1.1 percent to 2,858 million pounds (3,855 million dollars), while like-for-like sales decreased 1.4 percent in the quarter.

Steve Rowe, chief executive, said: "M&S had a mixed quarter with better Christmas trading in both businesses going some way to offset a weak clothing market in October and ongoing underperformance in our Food like-for-like sales".

Tesco saw its biggest ever sales week in the United Kingdom over Christmas, with 58 million customer transactions and 770,000 online grocery deliveries in one week.

"In the Christmas week itself (.) we sold more food than ever before at Tesco as we made our offer the most competitive it's been for many, many years", he told reporters.

James Franco's Accusers Open Up About Allegations
Franco was accused by five women of inappropriate behavior in a bombshell report published by the LA Times on Thursday. Four of the women were students that Franco coached, while one said he was her "mentor".

Experts find WhatsApp groups can be infiltrated: Here's how
So if you see someone new entering your group, speak to the other members in private chats to confirm the new person's identity. WhatsApp said it had "carefully looked" at the flaw and reassured users that their encrypted messages were safe.

Sure sounds like Gayle wants Oprah to run for president, too
It was very important for her because it would be the first time people heard from her in any detail about the Me Too movement . CNN senior media correspondent Brian Stelter is in love with the idea of Oprah Winfrey running for president in 2020.

However, general merchandise like-for-like sales fell 0.6 per cent.

Tesco did take a hit from lost tobacco sales after wholesaler Palmer & Harvey collapsed in November.

The supermarket group revealed that sales over the festive period grew 4% when compared to the same period in 2016.

However, the company said it was working with suppliers to mitigate inflation and Lewis said consumers were still "cautious" about how they were spending their money. Supply issues emerged after wholesaler Palmer & Harvey fell into administration a year ago.

Despite the upbeat update, Tesco's results have failed to spark enthusiasm among investors, which have sold off the supermarket's shares this morning.

British department store John Lewis said on Thursday that its own trading was likely to remain volatile in 2018 after higher costs and tough competition blunted the benefits of solid Christmas sales.

Related News:

Most liked

Mark Wahlberg reportedly paid way more than Michelle Williams for reshoot
USA Today recently claimed the actor, known for driving a tough bargain in Hollywood, received $1.5million for the reshoot. If additional filming is needed, actors will make themselves available - as their schedule allows - to clean up scenes.

Year Old bodybuilder dead in 5 days after Flu diagnosis
He came down with the flu a couple days before Christmas, his mother, Beverly Baughman , told WPXI earlier this week. He developed complications as his flu caused a septic shock , which in turn, led to organ failure.

Donkey Kong Country: Tropical Freeze Switch Port Announced, Release Date Set
On Nintendo Direct this morning, Nintendo announced that another game for Wii U will be taken to Nintendo Switch . The writers here at Nintendo Enthusiast are huge fans of Tropical Freeze , so this is a welcome announcement.

Elton John tips Camila Cabello for big things in 2018
Never spoken to her, never, but I just love her. "We get asked all the time if we're getting a fifth member", she explained . Elton said this about Camila , "I just think she's going to have an incredible year, cause she's ... just so much fun".

Israeli father-of-five killed in West Bank shooting
Israeli soldiers search a Palestinian's vehicle at an Israeli checkpoint near the West Bank city of Nablus, on January 10, 2018. The U.S. -brokered peace talks between Israel and the Palestinians reached an impasse in 2014.

7 new E. coli cases; continue avoiding romaine lettuce
The cases in the United States are the same strain as the cases in Canada and some of them have the same genetic fingerprint . We protect our client's legal rights. "Two people developed hemolytic uremic syndrome, a type of kidney failure".

Google makes little noise buying United Kingdom sound tech startup Redux
According to regulator filings, the shares of Redux' holding company were transferred to Alphabet in early December a year ago . Just recently Wired wrote about how companies might use audio to transfer data, which may be part of Google's plan for Redux.

Dead koala found screwed to post in 'sick' act in Australia
It shows the small koala, limbs wrapped around one of the shelter's wooden supports, appearing to clutch a bunch of gum leaves. The koala was listed as a "vulnerable" species under an Australian conservation law in 2012.

Job alert: Walmart raises starting wages, handing out bonuses
Walmart on Thursday promised full-time hourly USA employees 10 weeks of paid maternity leave and six weeks of paid parental leave. The retailer's hourly workers now make a starting wage of $9, which is increased to $10 after they complete a training program.

Trump Suggests Republicans Scuttle Russia Investigations
Donald Trump was then pressed again on whether or not he would meet with Robert Mueller , and elaborated further. "There was absolutely no collusion, everybody knows it".

#MeToo: US Democratic lawmakers urge wearing black to Trump speech
Some female lawmakers hope to make a statement at President Donald Trump's first State of the Union address. In December, three women reasserted their allegations in a bid to renew pressure on the White House.

Trump urged by top advisers to waive Iran sanctions, official says
British Foreign Secretary Boris Johnson said the deal is "a crucial agreement that makes the world safer". The US State Department said on Tuesday the Trump administration was expected to decide on Friday.

The Original Game Boy Is Making A Comeback
According to Gizmodo , the device features all of the classic Game Boy controls that you remember, but with a few upgrades. This can be switched off if you really want the authentic Game Boy experience of tilting it away from the glare of the sun.

Ford is latest to be sued over Diesel Truck Emissions
Owners are seeking damages for what they say are 58 'violations of state consumer law, false advertising and racketeering'. The lawsuit could pose a risk to Ford's plans to introduce a diesel engine in its smaller F-150 pickup for the first time.

Meghan Markle deletes all her social media accounts
Meghan's look is another example of how she might shake up the royal family and bring them up to speed with a new, modern outlook. It goes without saying that the media analyzed each post in there, in the hope of maybe figuring out something interesting.