Groceries performed so strongly over Christmas, jumping 10pc from 2020 and up 12.4pc on pre-Covid levels, that it couldn’t resist a clear dig at rivals with a claim to be “the fastest growing major store-based food retailer” in the three-month period.
Lidl had made a similar declaration, while Aldi had boasted that it was the “only major supermarket” to have increased turnover in December. But Marks & Spencer’s food always sells well, a mark of its quality, variety, relative affordability and convenience.
For once, clothing sales led the way, jumping almost 40pc in the UK and more than 17pc overseas despite a fall in sales at its high street stores.
The company was keen to point out that the leap had come despite cutting discounting by two-thirds but perhaps it was because of that – a perennial customer gripe is that too often the aisles have resembled glorified car boot sales, with a pile-them-high, sell-them-cheap approach considered to be beneath a retailer with Marks & Spencer’s illustrious history.
It wasn’t just a one-off omicron-inspired Christmas bonanza either, as people avoided the pub and sought other places to spend their end-of-year bonus. This was the second successive quarter that clothing and homeware sales have risen, with bras, pyjamas, jeans and sportswear all doing well.
Steve Rowe, the chief executive, put it down to “great quality” and “great value”, words that customers haven’t used to describe its clothes for a long time, so perhaps the heavy-lifting of a protracted turnaround is finally paying off.