British retailer Marks & Spencer Group Plc maintained its growth trajectory in the third quarter of the 2023/24 financial year.
According to an interim report published on Thursday, group sales in the months October to December reached 3.85 billion British pounds (4.48 billion euros). Adjusted for exchange rate changes, revenue was 7.2 percent higher than in the same quarter of the previous year.
In Great Britain, sales rose by 8.5 percent to 3.57 billion British pounds. In the food business it grew by 10.5 percent to 2.33 billion British pounds. The fashion and household goods segment achieved an increase of 4.8 percent to 1.24 billion British pounds, not least thanks to the strong demand for women’s clothing and lower price discounts, and was able to expand its market share. In foreign business, revenue fell by 6.4 percent after adjusting for currency effects and amounted to 288 million British pounds.
Thanks to the “strong” Christmas business, management was confident that the group will achieve results “in line with market expectations” in the current financial year, despite macroeconomic uncertainties and geopolitical risks.