Marks and Spencer is expected to announce its strongest Christmas in years later on this week.
This follows a successful trading period over recent months, which has seen the grocer turned a corner following its major transformation plans, despite being dropped out of the FTSE 100 earlier this year, with its share price lifting by almost 80% in 2021.
Shareholders will be hoping for positive news, when M&S’s Christmas trading update is expected to be announced on 13 January 2022.
Most recently, the grocer announced positive trading updates in the second half of 2021, despite Covid-19 restrictions and the rise of the Omicron variant.
In its latest update in November, M&S said its “Never the Same Again” transformation plan, which launched in 2020, includes the closure of several of stores, had helped set it on the path to recovery.
Food sales in the six months to October rose by 10.7% year-on-year, while clothing and home sales surged 67% as it was boosted continued online growth.
“M&S does not often comment on profits at this stage,” said financial analyst Danni Hewson.
“However, Steve Rowe upgraded guidance for profits before exceptional items and tax to around £500 million for the year at the first-half stage.
“No doubt the third-quarter statement will be scoured for any affirmation of, or change, to that figure.”