M&S expected to reveal ‘strongest’ Christmas trading in year

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.

READ MORE: M&S launches low-carbon challenge for members

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.”

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